I REALLY CANNOT BELIEVE THIS IS TRUE
FUCK EM
This is a ruthless attempt to steal from the people.
Fuck these greedy cunts.
Aussies please make viral
[
link to www.afr.com]
Thousands of bank account holders are being advised to make transactions of as little as $1
to avoid having their accounts transferred to the Australian Securities and Investments Commission to help plug the federal government’s budget deficit.
Under recent changes to the law designed to raise $109 million this financial year, deposits can be deemed unclaimed if a transaction has not been made on an account for three years or more, down from seven years previously.
Trusts and long-term savings accounts are also likely to be caught up in the sweep.
Westpac Banking Corp told customers in a recent letter: “We encourage you to transact (even a minimum of $1.00) on the account listed above within the next 72 hours otherwise you may be at risk of having the balance in this account transferred to the Australian Securities and Investments Commission (ASIC), which will occur on ASIC’s request.”
The letter said interest payments, fees and charges were not considered a transaction that could prevent the balance from being classified unclaimed.
People whose money is transferred to ASIC can get it back if they can prove it is theirs.
TIME FOR A TIN IN THE SCRUB:bad_egg:
