Reclaiming lost money
Australian Securities and Investments Commission (ASIC) has renewed its call for the owners of almost $500 million in unclaimed money to stake their claim.
There are now 33,994 new records worth around $151.2 million.
ASIC spokesperson, Delia Rickard, said some of the lost money came from banks, life insurance companies, credit unions and companies who have been the subject of a takeover in 2007.
Other examples include shareholdings where the company has been unable to contact a shareholder, old bank accounts and forgotten insurance policies.
Ms Rickard said money owed to individuals and businesses ranged from $1 to more than $3 million.
To see if you have lost funds, call ASIC on 1300 300 630, email infoline@asic.gov.au or search www.fido.gov.au.
She warned that some companies offer to find your money for a fee and to take advantage of ASIC’s free service.
