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$240 million – is some of it yours?

THE Austrlalian Securities and Investments Commission has about 365,000 names on its list who are collectively owed $240 million.

ASIC has an uncliamed money search engine on its consumer website FIDO, that can find out if people have money owed to them.

The commission’s director consumer communication Michael Dunn said people just needed to go to www.fido.asic.gov.au to see if any money was owed to them.

“Money is transferred to the Commowealth Government after an account has not been used for seven years. If you find it, you can still get it back. And best of all – it’s free to find it,” Dr Dunn said.

Since the introduction of the online search facility more than 1.25 million searches have been done by people looking for lost money.

In the past six months more than 4,500 people have discovered more than $10 million this way.

The FIDO search function is updated weekly

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