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

Try again. Maybe incomplee information provided.

how long its usually take to process n tranfer to your account

It's all thanks to the TS of that tered that i was able to claim thousands for both myself & relatives/friends. And yet, the TS for that tered has been SUS for dunno how long.

About a month. Provided all the information in good order.

the website damn slow

thought there is a time frame of 15 years currently?

Iinm from what I heard on tv news, the govt now seek to shorten the time to use the WTD from 15yrs to 10yrs, but the rightful owner can still claim the money within 15yrs.

Negara masih kaya

can do online lah these days

Memang can claim online mah.
Just upload IC back & front, bank statement or bank book.
Within 6 weeks, bank into my account. All online.
(Note: 6 weeks the 1st round, I only upload front part of IC. They send query back, I merged the front & back photos & reupload)

Only if it's your deceased parents or sibling or spouse then more leceh. Have to go Commissioner of Oath.
Look at the thread for unclaimed money, someone did it to claim parent's money.

This post has been edited by eaglehelang: Apr 14 2023, 01:49 PM

That is the legend NB01

He came back as C64 before again kena sus Kek

God bless him and his effort

the website fuckup slow

click like no click at all

i wait n wait then time over kick me out liou

I did it early this year, 2023. No problems with website.
Try again another time.

Basically govt is saying "faster go claim you fat fucks, else we will take it and you don't cry mother father."

What he got SUS for?

I got hundreds ringgit under my name, bersyukur la dapat beli kepsi nanti

"Ahmad Maslan 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."

there fixed

Dunno la that old man

Sometimes flaming sometimes racing

Not sure if he left or back. But if back closest to him would be Lembu Goreng as both retire mid 40s

This post has been edited by 9m2w: Apr 14 2023, 02:17 PM

uploaded docs liou

see in 1 month got money bank in or not

Need to check

Maybe got surprise unclaimed money there

yes.. can do online, if the money is registered or tagged to your name, like leftover money from bank account.

For my case, left over money in tng card and I never register the card online. So, TNG company cannot track whom the money (or the tng card) belongs to. When I want to claim the money by giving them the serial number, the TNG company told me, since it's been a long time ago, they already gave the money to Bank Negara iinm, under unclaimed money. So, I had to retrieve the money from them myself (with supported letter from TNG).

wah , ur case very ancient one bro

i js checked got rm90+ cukuur can mkn kepsi

Gip u la Maslan mine only Rm1.20, not worth the trouble of photocopy, petrol and internet data.

App to be launched for people to trace and get back their monies
By FAZLEENA AZIZ
Nation
Thursday, 20 Apr 2023

PETALING JAYA: In response to the thousands of queries about unclaimed money, a new app will be launched to ease the process for people to trace and reclaim their funds.

Deputy Finance Minister Datuk Seri Ahmad Maslan said the process to claim the money may be tedious but was vital for security reasons.

Sharing his own experience of being a victim, Ahmad said there were 14 attempts by fraudsters to grab his unclaimed funds.

“Previously, when I was the deputy finance minister during the implementation of the Goods and Services Tax (GST), my identity card was made viral because there were many people who were upset with me.

“This created an opportunity for these ‘Ahmad Maslan’ posers to use my IC information to retrieve my unclaimed money. The money was from a bank account I had opened some seven years previously,” he said.

Now, the public has to go through the website (https://egumis.anm.gov.my/) to retrieve their unclaimed money.

“We understand that the public want a more seamless experience, hence an app is in the pipeline,” he told The Star when asked if a different mechanism could be used to credit the unclaimed money into an individual’s bank account, similar to how cash aid is channelled to the public from the government.

Ahmad maintained that no agent or any third party could be used to retrieve the money.

Since the announcement that there is about RM11bil in unclaimed money belonging to the public as of March, Ahmad said they had received some 50,000 queries via the website.

“The biggest portion of the unclaimed money is from dormant bank accounts. A lot of the time, people tend to change their addresses and phone numbers, and they become untraceable for the bank to remind them about money in their accounts.

“However, rest assured that the unclaimed money is kept safe because it is our responsibility towards public trust.

“The Accountant General’s Department (AGD) officers are nationwide so everyone can have access to information and how to go about it,” he added.

In order to create more awareness of the unclaimed money, the AGD will set up booths to answer queries and assist the public.

The AGD, said Ahmad, was also looking to amend the Unclaimed Money Act 1965 (Act 370) with the aim of improving the unclaimed money process, including lowering the period of transfer from the current 15 to 10 years.

Last week, he announced that out of the RM14.1bil received by the AGD from companies or firms in accordance with Section 8 of the Act from 1977 until last month, about RM3.2bil – in savings accounts, insurance and deposits – had been refunded to their owners.

Source: https://www.thestar.com.my/news/nation/2023...ck-their-monies

PARLIAMENT TO DISCUSS UNCLAIMED MONEY TODAY



KUALA LUMPUR, May 24 (Bernama) -- The Dewan Rakyat, sitting for the third day today, will discuss, among other things, the amount of unclaimed money as of March 31, 2023, and proposals by the government to use the money for national development.

According to the Order Paper on the Parliament’s official website, the question on the matter will be raised by Fong Kui Lun (PH-Bukit Bintang) to the Minister of Finance during the question and answer session.

Also on the list is a question from Datuk Dr Ku Abd Rahman Ku Ismail (PN-Kubang Pasu) to the Foreign Minister regarding steps to be taken by the government to restore Malaysia's glory, position and role at the international level, including ASEAN, with Malaysia now seen to be increasingly isolated and less dynamic, like she used to be in the 1980s and 1990s.

There is also a question from Mohd Sany Hamzan (PH-Hulu Langat) to the Minister of Human Resources on whether the ministry intends to set up an incentive fund to help employers, especially those from private companies, to create matching opportunities for students of higher learning institutions to do their internships with reasonable allowances given to cover their expenses.

After the question and answer session, the continue Dewan Rakyat session will continue with the debate on the Insolvency (Amendment) Bill 2023.

The order for today’s sitting will include the tabling of several bills for the second reading, such as Fees (Department of Broadcasting Malaysia) (Validation) Bill 2023, the Renewable Energy (Amendment) Bill 2023 and the Sustainable Energy Development Authority (Amendment) Bill 2023.

This session of the Dewan Rakyat sitting is for 11 days from May 22 to 25 and from June 6 until 15.

-- BERNAMA

Source: https://www.bernama.com/en/general/news.php?id=2191767

everyday also said got how many billions of unclaim money, now should have been trilion liao

RM11.2 bln unclaimed money as of April 30, Dewan Rakyat told

KUALA LUMPUR (May 24): A total of RM11.2 billion of unclaimed money is under the management of the Accountant-General’s Department (JANM) as of April 30, the Dewan Rakyat was told today.

Deputy Finance Minister Datuk Seri Ahmad Maslan said over 70 per cent of the unclaimed money was from bank accounts which had been inactive for seven years or more.

“As of yesterday, we have refunded RM3.3 billion to the people who made claims,” he said during the question and answer session.

He was responding to a question from Fong Kui Lun (PH-Bukit Bintang), who wanted to know the amount of accumulated unclaimed money as of March 31 and the plans to utilise the funds for national development.

Elaborating, Ahmad said some RM10 billion of the unclaimed money had been kept in fixed deposits and generated a return of RM250 million a year for the past 10 years.

He further said that the RM250 million return earned had been paid to consolidated funds and used for development and assistance to the people.

Ahmad said unclaimed money is also defined as money that has not been paid to its owners, such as salaries, bonuses and dividends within a year or more, as well as money in trading accounts between suppliers and companies.

Meanwhile, Ahmad said the government is ready to consider using the unclaimed money for scholarships, but the main focus now is to return the money to the public.

He said those who wish to make a claim can refer to the JANM’s portal at www.janm.gov.my or https://egumis.anm.gov.my. – Bernama

Source: https://www.bernama.com/en/general/news.php?id=2191850

Gimme interest of that for one day enough already.

Current govt this money oso want songlap?

How is it songlap'ing?