• The unclaimed property program's efforts to identify owners through database matching and then notify them of their unclaimed property through direct mail appears to have saved approximately $99,000 during Fiscal Year 1998-99.
• However, the department has not developed an accurate means of tracking the cost and effectiveness of each notification method it uses.
• The Legislature has not amended the law to protect owners of unclaimed property from paying unnecessary fees for heir finder agreements.

What were our earlier findings?

Report No. 97-24   Review of the Abandoned Property Program within the Department of Banking and Finance , published in December 1997.

Which Government Program Summaries contain related information?

Department of Financial Services

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