Unclaimed assets (accounts): regulation issues

Potkin Аleksander А.

In the context of the digital transformation of the banking sector, the development of services, the acceleration of transactions, the facilitation of information exchange with customers, the problem of unclaimed financial assets should, if not disappear, then be minimized, however, this is not happening. On the contrary, the number and amount of unclaimed accounts tends to grow, creating problems for the banking sector and requiring regulation, which in turn requires precise criteria and definitions of the key concepts of "asset" and "unclaimed", as well as the rights of the parties in relation to them and in relation to each other.

Keywords:assets, banks, unclaimed assets, dormant accounts, transactions.