Sweepstakes Scam Alert
April 30, 2007
The Principal Financial Group name is being used by perpetrators of multiple prize notification scams. Perpetrators of these scams have been distributing letters and checks within the past several weeks notifying various individuals throughout the United States that they are the winners of a drawing, sweepstakes or lottery (using names such as North American Utilities, The Principal Financial Group Payment Center, Eldorna Investments Group, etc.). The Principal Financial Group and/or Principal Life Insurance Company located in Des Moines, Iowa, are not affiliated with the listed entities and does not participate in this type of drawing, sweepstakes or lottery.
The prize notification letter typically implies that the individual has won thousands of dollars and instructs them to call one of their claim processing "agents" as soon as possible to obtain prize instructions. They ask individuals to keep their prize notification confidential to protect their identity and avoid multiple claims. To claim the winning prize, the processing agent further instructs the individual to deposit a check that was enclosed with their letter and use that money to submit "administration, legal or insurance fees" via Western Union to Canada.
We have encountered this type of scam in the past and believe that the perpetrators are using several temporary phone numbers and operating from multiple locations in Canada. The checks that accompany the letters are fraudulent. Once an individual pays the "fees,' they will never receive the "winning prize." Unfortunately, the perpetrators of this scam are using the names of reputable companies (such as the Principal Financial Group) to appear legitimate.
Our company has reported this matter to the Iowa Attorney General's office and Canadian authorities. If you have received this type of correspondence, we highly recommend that you do not cash or deposit the check and encourage you to report the situation to the Consumer Services Division of your local Attorney General’s office.
