How Funds Go Missing And Who Is Responsible

With much of the population unaware of how funds go missing, it’s no surprise that we’re facing a missing funds problem in this country. The federal government and individual state Treasuries are on the receiving end of multiple millions and sometimes billions of dollars on a yearly basis. All of this money originates from dozens of sources, which makes it nearly impossible to track. Who is responsible for this money and what happens to it when it gets lost? Let’s look at a few scenarios and you’ll soon understand just how easy it is for money to go missing.

Missing Money Sources

To understand how funds go missing, we might turn to the broke college student who is barely making ends meet. The person might have job after job, might have a miniscule bank account, and might not be the most responsible person on the planet.

When a person changes jobs, they run the risk of losing wages. The missing funds may be mailed to you, but if they’re not received they will go to a Treasury account in the state in which you reside. If you have a bank account with a very low amount, you run the risk of abandoning that bank account. Which is easier? Closing the bank account or abandoning it altogether? Most would opt to just move instead of taking the time to go into the bank to collect $20 or less.

As you can see, that broke college student has the chance to find lots of missing funds years later. The apartment he or she lived in might have had a returnable security deposit. If the person didn’t receive it and then forgot about it, they might find that money years after the fact.

This is how funds go missing on a daily basis. The check gets lost in the mail, the person forgets they have money coming to them (or they’re not aware they have any money coming to them at all) and the missing funds end up in Treasury accounts that are bursting at the seams because there’s so much money to be dealt with.

Who Is Responsible for Missing Funds?

The person who lost the money to begin with is responsible for the missing funds being held across the country. You never know if you might have money lost or missing from years ago. Search for missing funds now that you know how funds go missing and you might find yourself just a little wealthier.