Don't Let Your Sweepstakes Dream Become a Nightmare

Written by Robin Young, CFP® on .

Publishers Clearinghouse has long been famous for its big checks and big winnings, but it has recently come to our attention that scammers have been using the PCH name and logo to commit fraud.

Although PCH's sweepstakes are legitimate, you still need to be very cautious if you receive a prize notification from PCH or any other company claiming you are a big winner. We are advising all of our clients to shred and ignore notifications from PCH and to be wary of all prize notifications, especially ones that ask for money.

We have spoken to PCH and they have confirmed that these kinds of scams are rampant. Many of these fraudulent notifications include checks (like the one pictured below, which was received by a client of ours) that at first glance appear legitimate.

Please be advised that all sweepstakes sponsors are required to send affidavits before releasing prizes worth more than $600. So, if you have received a check worth more than $600 as a prize without an affidavit, you know right away that it's a fake check scam, and it can cause you financial and legal problems.

pch1Click here to view the full document. 

Tips for avoiding PCH scams:

At Northstar, we take the financial security of our clients very seriously. Please remember we only accept verbal requests to transfer money to third parties. Emails and voicemails are not acceptable - for your protection, we need to speak with you directly. 

If you receive anything you have questions about, please do not hesitate to contact us.      


Resources:

https://blog.pch.com/blog/2014/02/25/beware-of-publishers-clearing-house-scams/

https://www.wcpo.com/money/consumer/dont-waste-your-money/new-pch-scam-claims-you-won-december-drawing

https://www.thebalance.com/avoid-fake-check-scams-886962

https://www.thebalance.com/did-you-win-or-are-you-being-scammed-886967

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