The New York state comptroller's office is overseeing $15 billion dollars worth of unclaimed funds. Banks, insurance companies, and other institutions are required to turn over the contents of inactive or abandoned accounts. More than 39 million accounts for New Yorkers have money waiting to be claimed.
State-owned insurance behemoth LIC had unclaimed funds to the tune of Rs 21,539 crore as of September 2021, according to draft prospectus filed for IPO with market regulator SEBI.
Almost $60 million in 2022 alone, and around $400 million in the last fiscal year. The New York State Office of Unclaimed Funds is giving back $1.5 million a day back to New Yorkers. They encourage New Yorkers to look on their website, type in their name, and see what unclaimed funds might be waiting for
The House of Representatives’ Ad Hoc Committee on Unclaimed Funds in the Nigerian Commercial Banks and Infractions by the Central Bank of Nigeria has begun investigation of funds stuck in the Deposit Money Banks, also known as commercial banks, due to the failure to link the account holding them to a Bank Verification Number and…