CASH GRAB: Inactive Australian bank accounts to be seizedNews.com.au
Feb. 27, 2013
Muslim Leader: 'Australian Women Need Us To Fertilise Them,' 'White Race Will Be Extinct In 40 Yrs'
Report: Top FBI Lawyer James A. Baker Under Investigation For Leaking Classified Info to Media
Twenty-Time Deported Illegal Alien Arrested For Sexually Assaulting 65yo Woman in Portland
Big Three Networks Completely Ignore Arrest Of Wasserman Schultz's Crooked IT Aide
'Get Her iPad For Imran': Wikileaks Email Connects Nancy Pelosi to Imran Awan
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.