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Over 5 billion ringgit uncollected in Malaysian accounts

Jul 26, 2017

More than 5 billion ringgit remains uncollected in Malaysian accounts, stretching all the way back to 1977. 

The Finance Ministry says this money is mainly from inactive bank accounts, expired fixed deposits and unclaimed insurance payouts. 

The sum is being held in trust by the Registrar of Unclaimed Moneys, in the Accountant-General’s Department.

25 counters have been also been set up nationwide for the rightful owners to claim the funds.