RM11 Billion in unclaimed money - Ahmad Maslan


PUTRAJAYA, April 12 (Bernama) -- There is approximately RM11 billion in Unclaimed Money (WTD) belonging to the public as of last March, said Deputy Finance Minister Datuk Seri Ahmad Maslan.

He said the amount was out of the RM14.1 billion received by the Accountant-General’s Department (JANM) from companies or firms in accordance with Section 8 of the Unclaimed Money Act (Act 370) from 1977 until last month.

Of the total amount, about RM3.2 billion, such as in saving accounts, insurance and deposits, had been refunded to its owners, he said.

"A large portion of the RM11 billion in WTD has been invested by the government in fixed deposits in accordance with the Financial Procedure Act 1957, (and) the interest earned (from fixed deposits) is accounted for in the Consolidated Revenue Account.

"From that fixed deposit, we get RM250 million in interest and we use that money for the people," he told reporters after a visit to JANM here today.

Ahmad said WTD is defined as money that is legally payable to the owner but has remained unpaid for a period of not less than one year, money standing to the credit of an account that has not been operated in whatever manner by the owner for a period of not less than seven years and money to the credit of a trade account that has remained dormant for a period of not less than two years.

He urged owners of the unclaimed money to claim their money by submitting an application through the eGUMIS portal, at JANM counters nationwide or by mail sent directly to the WTD Putrajaya office.

According to him, the eGUMIS portal launched in 2020 received about 17.2 million visitors as of last month with the number of registered users being almost 4.4 million users.

"During the same period, a total of 354,912 online WTD claim applications were received and of that amount, a total of RM199 million in claim amount was processed," he said, adding that JANM was developing eGUMIS Mobile application which can be used in the fourth quarter of this year.

Ahmad said the government also intends to amend Act 370, involving the period of transfer to the Consolidated Revenue Account from 15 years to 10 years, to redefine WTD according to Sections 8(a) and 8© of Act 370, and the amount of fines imposed on companies or firm for non-compliance.

"This act has not been amended for a long time,” he said, adding that the government expects to table the proposed amendments at the end of this year.

-- BERNAMA

Source: https://www.bernama.com/en/general/news.php?id=2181113

S

Lum songlap ke ? tak caye la ...

my money also inside there.. but only RM12.. it's from expired tng card a few years ago. TnG gave me letter to claim the money, but for that amount, I'm too lazy to go to.... i dont know, i dont even read to letter till the end..

What for? With current law, government can use it and get interest out from it.. if government take everything, the year after they will have lesser money to roll in..

meaning to say govt wanna makan the money ina shorter period la.

make it easy to claim online lah

I have RM200+ in there but very lazy to go claim it

Can ayam claim all rm11 bil...?

sedekah jer lah duit raya pada rakyat, murah nanti rezeki negara

owai

We got a dedicated thread https://forum.lowyat.net/topic/5048913 how to claim unclaimed money online

I have nothing under unclaimed money.

I’m so cheapskate that not a single sen can elude me

It's easy and I already claimed mine last year. Got it all within a month. Don't be shy to check & claim.

its very easy, i already claimed 3x

Not really, those money can still be claimed by rightful owners as per news report. But the change let the govt utilise the money sooner so it won’t stay there rotting.

yitu mention 11B unclaim moany is in rupiah or indiah rupee?

I already claimed mine. It was a school fee refundable deposit from my college. Just wondering why it could ended up in government unclaimed money department. The college can just send notice to students to claim directly but I never received any notice.

how come he already know about this? or he know already but keep hush hush on it, only voicing out when needed publicity openly. I thinks its ok, since not many know about this, while he telling everybody now might act as reminder, for anyone who want to check what unclaim money that they still can claim using internet.

yeah this

God bless NB01 / C64 kek

And ktards should check

I got back my Astro deposit that i forgot, ok that one my fault

Bonus was my deposite for my roll on roll of bin with Alam Flora from way back in 2010 kek

Go claim

last time during MCO i did try claim online

nothing happen