Got a letter about a “big inheritance” from a “long-lost relative”? It’s most likely a scam.
The scenario starts like this: scammers send out letters in the mail from a law firm relaying that one of their clients has died and they’re looking for the heir. You are, they say, that heir! (Spoiler alert: you’re not.)
The letter goes on to explain their offer: they want to split the proceeds between you, some charities, and their law firm. But what’s really going on?
According to the Federal Trade Commission, this is not a lawyer — it’s a scammer. The letter may sound convincing, explaining that the firm has tried to contact family members. No heir, they say, has come forward to collect the multi-million-dollar life insurance policy or inheritance.
It might be tempting to reply, just to see if you really can get some of the money. But that’s where the scam kicks in. If you contact them, they’ll try to get your personal and financial information, like your Social Security or financial account numbers.
According to the FTC, here’s what to do if you get one of these letters:
- Don’t respond. Keep your money and information to yourself. Never send money or information to a stranger who promises big rewards.
- Pass this information on to a friend. You probably throw away these kinds of letters. But you also probably know someone who could use a friendly reminder that these are scams.
- Report it to the FTC at ReportFraud.ftc.gov.
It helps to stay alert to the various types of scams to avoid becoming a victim. To learn about other types of scams visit cefcu.com/security.