(Washington, DC) The District of Columbia Office of Finance and Treasury (OFT) announced today that it has located more than $130,000 in unclaimed property that belongs to the American Red Cross, relief agencies and embassies of tsunami-devastated countries, including Indonesia, India, Malaysia, Somalia, and Thailand. The items, which include dividend, commission, and vendor checks as well as policy benefits, were turned over to the District when claimants could not be located or checking accounts were found to be dormant.
I am proud that in this severe time of need, we were able to locate money for the countries affected by the tsunami, said Treasurer N. Anthony Calhoun. This tragedy has touched everyone worldwide, and we hope that this discovery aids the recovery effort.
To expedite the return of this money, the claims are being handled as a high priority by OFTs Unclaimed Property Unit, which is working diligently to determine which offices should receive the funds.
Unclaimed property consists of money and other personal assets that are considered lost or abandoned when an owner cannot be located after a specified time frame, usually three years. Abandoned property includes unpaid wages, certificates of deposit, jewelry, paid life insurance policies, utility deposits, gift certificates, Christmas club accounts, and stocks. OFTs Unclaimed Property Unit receives unclaimed property from banks, insurance companies, utility companies, hospitals, universities, and other entities.
For more information about the unclaimed property program, visit Unclaimed Property or call (202) 442-8181.
District Locates More Than $130,000 for the American Red Cross and Countries Affected by the Tsunami
The money represents unclaimed property turned over to the District when claimants could not be located or checking accounts were found to be dormant.