How to spot an unclaimed money scam

Five warning signs

• An upfront fee, a release fee or a tax payable before you receive anything.
• A commission taken as a percentage of money you could claim yourself for free.
• Pressure and deadlines. Real unclaimed money has no expiry date, so urgency is manufactured.
• Contact you did not initiate - an unexpected text, direct message or call telling you money is waiting.
• Requests for banking passwords, myGov codes or remote access to your computer. No agency needs these.

What a legitimate process looks like

1. 1You search a public government register yourself, free of charge.
2. 2You find a record with your name and a last known address you recognise.
3. 3You lodge a claim with the named organisation, usually online or by post.
4. 4You supply identification and evidence linking you to the record.
5. 5The money is paid to a bank account in your name. Nothing is deducted.

Where paid help can be reasonable

Some legitimate firms trace heirs for complex deceased estates, where the work genuinely is difficult. Even then you are entitled to know the fee in advance, to check the register yourself first, and to walk away. A percentage of a balance you could have claimed in ten minutes is not a service - it is a finder's fee for public information.

If somebody has to contact you about your unclaimed money, ask why the register did not.

If you think you have been targeted

• Stop all contact and do not send further documents or payments.
• Report it to Scamwatch, which tracks and publishes current scam patterns.
• Contact your bank immediately if you have shared banking details or made a payment.
• Change your myGov password and review linked services if you shared a code.