CASH GRAB: Inactive Australian bank accounts to be seizedNews.com.au
Feb. 27, 2013
Jorge Ramos: "The Future of this Country Will be Composed Solely by Minorities," It's "Beautiful"
FACT CHECK: Hillary Said 90% of Clinton Foundation Donations go to Charity. Actual Number? 5.7%
John Podesta Wasn't 'Hacked,' He Fell For An Email Phishing Scam
Dem Rep. Sheila Jackson Lee Denounces 'Wikipedia' for Publishing Leaked Emails!
Illegal Immigrant Child Molester Flees Guatemala for U.S., Goes on Molestation Spree
HOUSEHOLDS face losing up to $109 million from their family savings as the Federal government moves to seize cash from inactive bank accounts.
After legislation was rushed through parliament, the government will from May 31 be able to transfer all money from accounts that have not been used for three years into their own revenues.
This will mean that accounts with anything from $1 upwards that have not had any deposit or withdrawals in the past three years will be transferred to the Australian Securities and Investment Commission.