Attorney General Long Warns Consumers of Unclaimed Property Scams

(Pierre) – Attorney General Larry Long is urging caution towards telemarketing offers to help consumers locate unclaimed or lost property, payments or refunds. These offers, which target seniors, have been typically sent as direct mail solicitations, but recently the Consumer Protection Office has received complaints on telemarketers trying to obtain bank account information in exchange for these services. These telemarketers require payment of a fee or a percentage of the recovered funds. They also lead consumers to believe that they will conduct an individual search on their behalf. 

South Dakota and other states have programs whereby abandoned or unclaimed property must be turned over to the State Treasurer. “There are organizations that are charging large fees to locate unclaimed property for South Dakota consumers.'’ said Long. “The State Treasurer’s Unclaimed Property Division can search for you at no cost and charge no fees to return your property.” Searches can be made by calling the Unclaimed Property Division at 605/773-3379 or by checking their website at www.state.sd.us/treasurer/.

If you believe you have been billed for these types of services please contact the Consumer Protection Division of the Attorney General's Office at 1-800-300-1986 or consumerhelp@state.sd.us.

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