$38 Billion missing in the USA; that's a lot of holes in pockets!

A picture can indeed be worth more than a thousand words! Therefore, there is not much to add to this infograph presented recently by People Finders in the US. where some $38 billion in unclaimed funds is waiting to be found by owners.

However, People Finders does point out a delicate issue. There is a total of approximately $911 million unclaimed in California and $602 million unclaimed in Texas. Of those totals, $6.7 million alone is owed to individuals or families with the last name of Smith in the State of California. Likewise, in Texas, $6.01 million is owed to individuals or families with the last name of Smith.

Some of those various individuals that have the last name Smith could be rich soon!

Alas, there are 26,000 individuals named Smith listed in the state of California and 57,000 individuals with the last name Smith in Texas. That's a lot of Smith Families and the State of California and Texas will have to work extremely hard to track those families down.

 It's important to remember that the US has had consumer protection legislation for some 40 years which regulates unclaimed funds and ensures that owners are proactively looked for. Regardless, $38 Billion is still unclaimed!

Sadly, no such comprehensive consumer protection exists in Canada. So if the US has $38 Billion it's a guessing game for Canada.  Indeed.

Read more: http://www.businessinsider.com/the-cost-of-unclaimed-money-in-the-us-2012-9#ixzz29ubqsGuoRead more at businessinsider.com