Since 1970, the state has been statutorily obligated to administer the Wisconsin Unclaimed Property system.

This involves retaining abandoned or forgotten financial assets until they can be recovered by their rightful owners. This can include funds from checking and savings accounts, uncashed dividends or insurance policies.

Until earlier this year, we did not have any mechanisms in state statutes that specifically helped to hinder unclaimed property fraud.

A new law I authored this legislative session – 2025 Wisconsin Act 112 – changes that by allowing authorities to impose criminal charges and civil penalties on individuals who try to defraud the Unclaimed Property system.

It is well past time that we hold these scammers accountable.

If you would like to see whether the state is holding on to any of your unclaimed property, please click here.

For next week’s “Testin’s Throwback Thursday,” I will be discussing my bipartisan legislation that was signed into law this session that improves the efficiency of the Wisconsin Economic Development Corporation’s Opportunity Attraction and Promotion Fund.