Your unclaimed rewards could be a hoax
Free cash you didn’t know you had? It sounds like a dream come true, but it’s actually a trick many consumers have reported to the Better Business Bureau of Greater Houston and South Texas.
In this scheme, con artists use the false promise of unclaimed rewards to fool consumers into giving up their credit card information.
The scam follows a similar pattern. You receive a postcard in the mail, an email, or a message on social media stating you have an unclaimed reward that can supposedly be redeemed with major retailers.
According to the message, your reward is worth $100 dollars or more, but you had better act quickly, because you only have a few more days to redeem it. You are given a phone number to call to find out how to get your reward.
When you call, you are asked for personal information in order to “confirm your identity.” Con artists may ask you for your name, address, government ID number, or other sensitive details.
Once your identity is confirmed, you may be asked to pay a small fee to cover mailing costs. Now, the person needs your debit or credit card number.
Scammers will have gained access to your personal information and may attempt to make fraudulent charges using your card information, and, of course, your “unclaimed money” will never arrive because it never existed.
The Better Business Bureau offers the following tips on how to protect yourself from unclaimed asset scams:
Monitor your accounts. Unclaimed money comes from accounts in financial institutions and companies where there’s been no activity or contact by the account owner in more than a year. These accounts may be savings or checking accounts, stocks, uncashed dividends, security deposits, and tax refunds.
Research any possible unclaimed assets. Think you have unclaimed assets? In the United States, there is no central place to look for unclaimed assets, but in Texas, you may visit claimittexas.org, which is run by the Texas Comptroller’s Office to research this information.
Be wary of unsolicited correspondence. If you receive an unsolicited letter, phone call, email or any other kind of correspondence from a stranger, be careful! Most legitimate companies will not contact you this way unless you have previously given them permission to do so.
Never give your personal information to strangers. Never give anyone you don’t know and trust access to any of your personal information. This includes your full name, phone number and address, your ID numbers, and your banking information.
The Better Business Bureau is an unbiased nonprofit organization that sets and upholds high standards for fair and honest business behavior. Visit www.bbbhouston.org or call 713-868-9500. Leah Napoliello is senior director of Investigative Services with the BBB of Greater Houston and South Texas. Send questions to Leah Napoliello, Better Business Bureau, 1333 West Loop South, Suite 1200, Houston, TX 77027, or e-mail lnapoliello@bbbhou.org. Include your mailing address and phone number.