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NYS looking to return millions in cash to rightful owners

NYS Comptroller's Office

Once again, the New York State Comptroller's Office has millions of dollars in unclaimed funds looking for their owners, including more than $113 million owed to 241,221 accounts in Erie County.

The state is overseeing more than $14.5 billion in unclaimed funds and is urging New Yorkers to check the Comptroller's website to determine whether any of it belongs to them.

The majority of funds stem from old bank accounts, but also include stocks, life insurance, uncashed checks and gift cards. State law requires that abandoned money or securities be transferred to the Comptroller’s office if there is no activity in, typically, three years.

Comptroller Thomas DiNapoli says over 2 million people visit the website every year and his Office returns $1.5 million a day. The Office set a national record for the third consecutive year, for the most unclaimed funds returned in one year - totaling $452 million.

However, most funds remain unclaimed. There are currently more than 35 million unclaimed funds accounts across New York State, some dating back to the 1940s.

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