140,000 unclaimed property checks in the mail for Illinois residents, totaling $13.2 million
CHICAGO (CBS) -- The check is in the mail, and it's legit, so keep an eye out for an envelope from the Illinois State Treasurer.
Treasurer Michael Frerichs' office has mailed checks to approximately 140,000 people, totaling nearly $13.2 million, from the state's Unclaimed Property program.
The checks are being sent out through the Enhanced Money Match Program, which allows the treasurer's office to automatically return money to Illinois residents without them having to file a claim.
Frerichs said returning the money to its rightful owners is harder than you would think.
"It's difficult to return money. You know, when we get a letter in the mail that says, 'Hey, just cash this check,' we have done such a good job of convincing people in this state that there are identity thieves out there that they think it's a scam. They think it's a hoax, and these checks go uncashed," he said.
The state's Unclaimed Property program, also known as I-CASH, allows the state to collect unclaimed property such as the contents of inactive safe deposit boxes, abandoned bank accounts, unpaid life insurance benefits, unused rebate cards, and uncashed checks.
The treasurer's office said most of the checks are for $50 to $100 each.