(Better Business Bureau)
The letter comes unexpectedly and features an enticing opportunity for the recipient: A long-lost relative has passed away and left an inheritance that could be yours.
Beware of quick riches, though, as that letter is a trap. Better Business Bureau* (BBB*) has received numerous reports to its BBB Scam Tracker in recent weeks from consumers all over North America about a letter they received alleging to be from an Ottawa, Ontario, Canada law firm. In less than a week’s time in mid-September, BBB received nearly 100 reports from consumers in 30 U.S. states and one Canadian province about a letter they received promising them riches.
Letters shared with BBB by consumers shared many of the same details, including this paragraph:
“I am reaching out to discuss a sensitive and significant matter concerning an unclaimed ‘permanent life insurance policy from one of our late clients, Late Mrs. Maria (Last Name), who unfortunately passed way approximately four years ago due to Covid-19 complications. (Last name), a respected Stock Broker and Retired CPA, left behind a ‘Payable on Death’ (POD) savings account valued at approximately Ten Million Eight Hundred Thousand, Twenty United States Dollars ($10,800,020.00).”
The last name in the paragraph is tailored to match the last name of the recipient of the letter. The letter goes on to say that “given the absence of direct claimants and based on the significant surname similarity and shared nationality with the deceased, I propose an opportunity set forth by the insurance company, unclaimed policies must be surrendered to the state’s abandoned property division after a period ranging from two to four years post-notification.”
The letter says 10 percent of the funds will go to charity with the remaining money to be split evenly between the law firm and the recipient. The letter said there are no risks associated with the transaction.
One person reported to BBB Scam Tracker, "My husband received a letter concerning a life policy from a late client, Mrs Maria Quesnelle, leaving $10,800,020.00. Charitable donation 10%, remains 90% to be split 50-50 with them."
Another person reported to BBB Scam Tracker, "Letter states Marie Earlewine died and has unclaimed life insurance of ten million dollars and want to split it 50/50."
Someone else shared this experience on BBB Scam Tracker, "I got a letter in the US Mail from Peter Abbott, 1600 Carling Ave #510, Ottawa OH K1Z 0A1. The letter said that Mrs. Maria (my surname) passed away and had an unclaimed 'permanent life insurance policy.' The letter goes on to say she left a payable on death savings account valued at approximately $10,800,000 and the proposal is that 10% would go to a charitable donation and the other 90% would be shared 50/50 with us and the attorney. We were given 30 days to respond. I reported the letter on the BBB website."
The law firm’s whose address is being used on the mailer has a disclaimer on its website to warn people about the letter. Various lawyer names were reported to BBB.
At this time, of the consumers who have contacted BBB, it does not appear any money has been lost.
BBB offers these tips on avoiding inheritance scams:
- Do your research: Look up the address from which the letter was sent. Scammers often imitate real businesses. Contact the business to see if they have knowledge of the letter or if any of those named in are employed there. Search online legal registries if a lawyer is named in the document.
- Notice the small details: If the letter you receive has grammatical errors or typos, that is a red flag. Also, be wary if you are asked to respond to a public domain email address like Gmail or Yahoo. Law firms will have their own email domain.
- Don’t give away any information: If you are asked to provide personal information, like your Social Security Number/Social Insurance Number or banking information, it is a scam. When someone is leaving their estate to beneficiaries, they should already have the necessary information to distribute the inheritance.
- Never pay: You should never be asked to pay money upfront to receive an inheritance. Funds for legal fees should be deducted from the estate.
- Report the bad actors: If you receive a letter in mail that appears to be fraudulent, report it to BBB Scam Tracker. In Canada, report it to the Canadian Anti-Fraud Centre; in the U.S., contact the United States Postal Inspection Service.
BBB Greater Ottawa contributed this warning.