IN Attorney General Warns of Unclaimed Property Scam

Indiana Attorney General Curtis Hill is urging people to verify the legitimacy of offers that claim you have unclaimed property held by the state.

The National Association for Unclaimed Property Administrators (NAUPA) has identified a number of scams across the United States, including reports in Indiana.

As the Office of the Indiana Attorney General revs up its efforts to educate people about Indiana Unclaimed, officials want people to be aware of potential scams that try to defraud claimants.

According to the Attorney General's Office, scammers send legitimate-looking letters, emails, or phone calls claiming there are hundreds of dollars in unclaimed property in your name.

However, the scams will ask for your personal information and credit card number as payment for finding property that doesn't exist.

Unclaimed property is cash or other financial assets belonging to individuals or businesses – including payroll refunds, security and savings accounts, insurance payments, and death benefits.

When businesses fail to find the owners, they are required after a certain time to turn over that unclaimed property to the state.

The state then holds the property to try to return it to its rightful owners.

In 2016, Indiana returned around $66 million. As of June 2017, the state was in possession of some $466 million in unclaimed property.
Officials say it's important for people to remember that the purpose of Unclaimed Property is to reunite the property with its rightful owner free of charge.

Officials say to never pay for anything related to unclaimed property.

(This story was originally published on August 4, 2017)

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