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#197809 - 06/07/04 08:49 PM Abandoned Property
J2C Offline
Diamond Poster
Joined: May 2004
Posts: 1,475
Big Brother knows and that's a...
I am doing a review of abandoned property (New York) right now. One thing that is required is to advertise in the local newspaper 30 days after the preliminary report filing is the names and last known addresses of persons appearing to be entitled to property of $50 or more.

Is this a violation of Reg. P? I am also going to post my question in the audit forum. I would think that it would be a violation.....
My opinion is mine only- not my employer's!

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#197810 - 06/16/04 02:38 PM Re: Abandoned Property

I am not sure of the answer but I think that it is a great question. We got notified the other day from New York State that we are going to be audited. I can't ever remember them coming in to our bank to do this audit. Has anyone else been audited recently from NYS for abandoned property? Can you give me a heads up on what to expect

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#197811 - 06/28/04 08:34 PM Re: Abandoned Property
pookiesgirl Offline
Junior Member
Joined: Jun 2004
Posts: 29
New York State
I recently worked at a bank that was audited. all I can say is good luck. The audit started during the 2nd quarter of last year, and as of February of this year, had not beeen completed (although the total onsite time was just a couple of weeks). They asked for a ton of info, from quite far back, as well as the results of any audits that had been performed.

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