Schroder Warns Public To Be Wary of Unclaimed Property Scams

‘We are not sending text messages about lost money.’

BATON ROUGE, LA – State Treasurer John M. Schroder today warned the public to be wary of scams involving Unclaimed Property after a number of people reported receiving text messages about lost money. Treasury does not communicate with Unclaimed Property recipients through text messages.

“The best way to check for Unclaimed Property is to check our website at www.latreasury.com or call us at 1-888-925-4127,” said Treasurer Schroder. “Unfortunately, scam artists are sending text messages pretending to be us. Please do not click on the links in these fraudulent messages.”

The Louisiana Department of Treasury recently mailed $4 million in Unclaimed Property money to Louisiana citizens after using tax records to update addresses. These checks are real.

Each year businesses turn over millions of dollars in unclaimed cash, stocks, bonds, securities and insurance proceeds to the State Treasurer’s Office.

Known as “Unclaimed Property,” these funds include payroll checks, old bank accounts, royalties, utility deposits, interest payments, stock certificates and life insurance proceeds. One in six individuals in Louisiana has Unclaimed Property, with refunds averaging $900.