At ASSET RECOVERY SERVICES, we take it upon ourselves to research and investigate financial assets that have been quarantined by various Public Trustees as unclaimed. We then reach out to individuals or organisations who are likely to be the rightful owners so we can assist in the assets recovery. We may have contacted you because we believe that lost assets may belong to you. In most cases it’s likely to be a nice surprise to learn that financial assets could be owed to you and you didn’t even know about it.
Our recovery experts specialise in finding unclaimed assets for Australian individuals and organisations who have lost track of their assets. We assist in first verifying the identity of the rightful owner(s) and then assist with the claims process by managing the documentation, preparation and submission of claims.
The answer is simple; the assets will stay (in many cases) in a Government trust account and will remain unclaimed. Then, depending on which authority holds the funds, the assets may be transferred into the Government’s consolidated revenue fund once a certain period of time has passed.
Overseas Move
Perhaps you forgot about a deposit? (It’s more common than you think.) Many people move overseas and forget to notify or change their details with their service providers.
Oversight
People forget about their investments all the time. Maybe you invested in some shares when you were 20 and forgot all about them, this is quite common.
Moved House
Perhaps you moved house and may have forgotten to update your new contact details to the relevant organisation and they were unable to contact you or your new address may not have been updated correctly.
There are many laws in place that protect you as a consumer and your lost assets. It is an offence under the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 to give false or misleading information or documentation. This means that we are bound by law to ensure that we undertake correct procedures. It also means that we are bound by law to promptly refund your funds into your preferred bank account or by cheque.
We are trained through Create, they serve as a third party validating our claim as asset recovery professionals. We are frequently updated with industry information which keeps our knowledge and training relevant so you can be sure you are putting your trust in the hands of up-to-date industry experts.
CA ANZ promotes the Chartered Accountant (CA) designation and high ethical standards, delivers world-class services and life-long education to members and advocates for the public good. ICAA protects the reputation of the designation by ensuring members continue to comply with a code of ethics, backed by a robust discipline process. ICAA also monitor Chartered Accountants who offer services directly to the public.