Beware of a Deceptive Scam Involving Bogus Lawyers and Nonexistent Life Insurance Policies

(WTTV/WXIN) — The Federal Trade Commission (FTC) is issuing a cautionary alert regarding a fraudulent scheme perpetrated by counterfeit lawyers peddling fictitious life insurance policies. This scam not only preys upon the deceased but also specifically targets various minority communities.

According to the FTC advisory, individuals within Latino, Korean, and Vietnamese communities have reported receiving letters from a purported “lawyer” based in Canada. These letters claim that the lawyer represents a deceased client who possesses an unclaimed life insurance policy worth millions of dollars. Since the recipient shares the same last name and nationality as the deceased, they are allegedly eligible to append their name to the policy and share the proceeds with the supposed lawyer, possibly even contributing to a charitable cause.

To seize this so-called “golden opportunity,” all you need to do is promptly send an email to the supposed lawyer. However, there are critical points to bear in mind. Firstly, as per the FTC, it is not possible to benefit from a stranger’s life insurance policy. Secondly, there is no genuine life insurance policy in existence. Once you engage with the lawyer-scammer by email, they will initiate requests for your personal information, money, or both.

Fortunately, the silver lining in this situation is that the purported life insurance policy is entirely fictitious. Consequently, the scammer is not actually defrauding the grieving loved ones of a deceased individual.

If you happen to receive such a letter, the FTC strongly advises against responding to it. Instead, you should share this information with your friends to prevent them from falling victim to the scam. Additionally, reporting the scam to the FTC through their website is highly encouraged.