PUTRAJAYA: There is approximately RM11bil in unclaimed money (WTD) belonging to the public as of March, says Datuk Seri Ahmad Maslan.
The Deputy Finance Minister said the amount was out of the RM14.1bil received by the Accountant-General’s Department from companies or firms in accordance with Section 8 of the Unclaimed Money Act 1977 until last month.
"A large portion of the RM11bil in WTD has been invested by the government in fixed deposits in accordance with the Financial Procedure Act 1957, the interest earned is accounted for in the Consolidated Revenue Account. 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.
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.
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