Getting a phone call or text claiming you’re owed thousands of dollars in unclaimed money can be exciting — but don’t celebrate too quickly.
According to the Federal Trade Commission (FTC), scammers are using these messages to trick people into handing over personal information or money.
Fraudsters often pretend to represent a government agency and may even tell you the exact amount you’re supposedly owed to make the scam sound believable. Scammers can spoof caller ID information to make a call or text appear to come from a trusted organization or government agency. Their goal is to convince you to act before you have time to think.
According to the FTC, watch for these common red flags:
- You’re told you must act immediately because time is running out
- You’re asked to pay a processing fee to claim the money
- You’re asked to provide sensitive personal or financial information
- You receive an unexpected text with a link to ‘claim’ your funds
Legitimate government agencies won’t call, text, or email you demanding immediate action, or ask you to pay a fee to search for or receive unclaimed property.
If you think you may have unclaimed funds, skip the links in unsolicited messages. Instead, visit your state’s official unclaimed property website, where you can search for free. You can find your state’s program through the National Association of Unclaimed Property Administrators at unclaimed.org/search.
If you provided personal information or clicked a suspicious link, contact CEFCU immediately and monitor your accounts for unauthorized activity.
If you receive one of these scam calls or texts, report it to the Federal Trade Commission at ReportFraud.ftc.gov. Keep up-to-date on other types of scams by visiting cefcu.com/security.
