How to handle unexpected calls about unclaimed funds

Did you get a call or text saying you’re eligible for thousands of dollars in unclaimed property? Don’t get excited yet. It might be a scammer looking to steal your money or personal information. Here’s how to avoid that scam — and find out if a government agency has money, stocks, or another asset that belongs to you.

When a scammer calls or texts you about unclaimed funds, they might use a real-sounding (but fake) government agency name. To get your attention, they might mention a specific amount you’re (supposedly) entitled to. But this is a phishing scam.

If the caller says time is running out, or the text says they’ve extended the claim period just for you, that’s a scam. If the caller asks for personal information, or an upfront “processing” fee to release the funds, that’s a scam.

The government won’t call or text and ask you to pay them to search for unclaimed funds. And they won’t pressure you to respond right away. Scammers play on your fear of missing out, hoping you’ll respond now and ask questions later.

So, no matter what a call or text says about unclaimed funds:

• Don’t click links in unexpected texts. State unclaimed property programs won’t text you with alerts about unclaimed property — but a scammer will.
• Check out your state’s .gov website first. Every state has a process to search for unclaimed funds— for free. Go to unclaimed.org/search to find your state’s unclaimed property office.
• Report the scam. If you spot a phishing scam like this one, tell the FTC at ReportFraud.ftc.gov. Then, talk about it with a friend to help them spot the scam too.

To stay up on the latest scams, get FTC’s Consumer Alerts delivered to your email inbox. Sign up at ftc.gov/ConsumerAlerts.