KRyS Team Up For ‘Unclaimed Assets’ Service
KRyS Global, a boutique fraud investigation and asset recovery firm, have partnered with AssetMine Global Inc. to offer a service to local residents and companies who may have unclaimed property located in jurisdictions around the world.
The company said, “‘Unclaimed Property’ is the term given to financial assets that have not been collected by their owners after a legally defined period of time.
“These assets could be in the form of dormant bank accounts, tax refunds, uncashed cheques, insurance / pension policies, stocks / brokerage accounts, inheritances, etc.
“Many Bermuda residents will have already received correspondence regarding assets that have been identified as belonging to them, and they are encouraged to respond to begin the claims process.
Mathew Clingerman [pictured], Managing Director of KRyS Global’s Bermuda office said, “We have begun our first phase of contacting those who we believe to be owners of unclaimed assets that have been identified by AssetMine.
“Our team uses a multi-stage research process into publicly available databases across the world, which include cross-references at every step to eliminate nonowners. We are contacting only those whom we consider likely to be the rightful or legal asset owner”.
“We are excited about this initiative and the value it can bring to Bermuda residents, companies and the government”, said Mr. Clingerman, “We are assisting clients in locating assets that in most cases they never knew existed.”
“The unclaimed assets that do actually have a known value for Bermuda residents and companies is in the millions of US dollars, so we can only imagine what the ‘not stated’ values are” stated Darren Jack [pictured] of AssetMine. “Our experience in other countries indicates that a significant number of these unclaimed assets could have significant value.”
The company added, “It is through no fault of the true asset owners that they are unaware of unclaimed property. Assets can go missing for a number of reasons: change of address / lost mail; incorrect spelling of contact information being recorded; wills not being left / beneficiary details not being up to date; or cheques not being deposited into the owner’s account.”
