UNCLAIMED MONIES - Government Lost It?

The government lost UNCLAIMED MONIES - Shocking News. Now, they claim that someone else(a Syndicate?) took our the money - This is NO EXCUSE. The loss has to be borne by the Government as the government failed to keep this UNCLAIMED MONIES safe for the true owners. 

The victim, Lau Kah Lee, 65, had earlier found out via the eGumis portal at https://egumis.anm.gov.my/ that there was RM116,000 belonging to his late mother, who passed away in 2008."On Dec 25 last year, I submitted the relevant documents to claim the money at the Accountant-General's Department counter here. However, to my horror, I was told that the money was no longer there," he said during a press conference at Sibu MP Oscar Ling's office on Monday (April 8).

See earlier post:- 

UNCLAIMED MONIES RM11 Billion - Find the owners or their heirs, and return it. Do not take the people's monies?

By taking monies from interest bearing accounts as UNCLAIMED MONIES(that apparently bear no interest or Annual Dividends like KWSP/EPF or some Trust Funds - it means that once the government takes it, there is no more interest.

Should it rather be placed in the EPF/KWSP accounts of the owners - which means that it will continue to be income generating for the owners.

Now, this case of monies in the UNCLAIMED MONIES account has gone MISSING, it is shocking. 

Who did the government give the RM116,000 to? In any event, the government 'lost' it, and so the government must lodge the needed police report and find the culprit. Wrong to ask the owner to lodge police reports and search for the monies himself/herself????

If the account owner is dead, then the monies should not be given to any son or daughter - it must be given to all entitled. If there was a WILL, then the relevant beneficiary gets the monies. If there was no will, then the money will go to the relevant beneficiary according to the shares determined by law.. DISTRIBUTION ACT 1958

(a) if an intestate dies leaving a spouse and no issue and no parent or parents, the surviving spouse shall be entitled to the whole of the estate;

(b) if an intestate dies leaving no issue but a spouse and a parent or parents, the surviving spouse shall be entitled to one-half of the estate and the parent or parents shall be entitled to the remaining one-half;

(c) if an intestate dies leaving issue but no spouse -and no parent or parents, the surviving issue shall be entitled to the whole of the estate;

(d) if an intestate dies leaving no spouse and no issue but a parent or parents, the surviving parent or parents shall be entitled to the whole of the estate;

(e) if an intestate dies leaving a spouse and issue but no parent or parents, the surviving spouse shall be entitled to one-third of the estate and the issue the remaining two-thirds;

(f) if an intestate dies leaving no spouse but issue and a parent or parents, the surviving issue shall be entitled to two-thirds of the estate and the parent or parents the remaining one-third;

(g) if an intestate dies leaving a spouse, issue and parent or parents, the surviving spouse shall be entitled to one-quarter of the estate, the issue shall be entitled to one-half of the estate and the parent or parents the remaining one-quarter;....(Section 6  Succession to intestate estates)

One case of missing money in UNCLAIMED accounts - how much more of people's monies have been lost.

UNCLAIMED MONIES best continue to generate income ... i.e. earning interest or dividends. If not, best to leave it in banks so that it can continue to earn interest rather than the government taking it and keeping it as UNCLAIMED MONIES.

Late mother's unclaimed money missing from account, says retiree

---

By ANDY CHUA Nation?

SIBU: A retiree was shocked to find out that his late mother's unclaimed money has gone missing from the unclaimed money accounts.

The victim, Lau Kah Lee, 65, had earlier found out via the eGumis portal at https://egumis.anm.gov.my/ that there was RM116,000 belonging to his late mother, who passed away in 2008.

"On Dec 25 last year, I submitted the relevant documents to claim the money at the Accountant-General's Department counter here. However, to my horror, I was told that the money was no longer there," he said during a press conference at Sibu MP Oscar Ling's office on Monday (April 8).

Lau then lodged a police report on the matter on Jan 12.

Ling said under normal circumstances, once the unclaimed money is returned to the owner, a message "Tuntutan sudah dilaksanakan (claim has been made) would be displayed in the owner's account in the eGumis portal.

However, in Lau's mother's case, there was no such message.

Ling said that Lau’s mother's money had been unlawfully claimed by someone believed to be from a syndicate.

"This syndicate targets unclaimed money that has a huge amount. This is quite serious as I was told that the syndicate had forged documents from the district office, Accountant-General's Department and National Registration Department to get hold of the unclaimed money," he said.

Ling added that there were three other similar cases in Sibu, and said that the Finance Ministry is investigating.

"I also believe that there might be more unreported cases here," he added.

Ling also advised the people to check their status and claim their money if available through the eGumis portal. - Star, 8/4/2024