What are the Best Practices for Due Diligence?
“Due diligence” is a phrase commonly heard in work environments today. However, it is so often said that few people take the time to truly think about what it means to practice due diligence when performing their jobs.
Utilizing Third-Party Services Does not Eliminate a Company’s Unclaimed Property Responsibilities
Many companies today rely on third-party services to help them efficiently and effectively accomplish all the tasks they need to keep their businesses running smoothly.
The Importance of Properly Recording Customer-Generated Activity
For financial institutions, capturing customer-generated activity is the key to preserving customer accounts and reducing their unclaimed property liability, but sometimes this is easier said than done.
Six Reasons You Should Outsource Your Unclaimed Property Compliance
Are you a new business trying to wrap your head around your obligations regarding Unclaimed Property? You may be an established business that has struggled to understand and meet the requirements for reporting your unclaimed property. Or are you simply too busy, and dealing with your company’s unclaimed property is something you would like to […]
Bolstering Unclaimed Property Policies and Procedures: What You Need to Know
Unclaimed property is often an involved, complex arena, and developing guidelines to ensure compliance is vital to identifying manageable challenges before they snowball into more substantial setbacks. All too often, organizations only consider developing formal policies and procedures — or reintroducing outdated iterations — when faced with the possibility of an unclaimed property audit. Here, […]
When (or Where) Are Gift Cards Considered Unclaimed Property?
Birthdays, graduations, anniversaries, and the holiday season at large are all occasions where gift cards and gift certificates become extremely popular present choices. While gift cards have appealing utility for the issuer, they may create abandoned property exposure for the issuer if they are not aware of the varying state laws regarding gift cards and […]
Unclaimed Property Reporting: Top Considerations for First-Time Filers
While state unclaimed property laws have been in existence dating back to the early 1900s, there are companies of all sizes, in all industries, that have never reported unclaimed property. A typical business entity — or “holder,” for unclaimed property purposes — is obligated to report outstanding, uncashed, and inactive accounts to the state on […]
Unclaimed Property Considerations for Mergers and Acquisitions
Entities that engage in merger and acquisition — or M&A — activity must consider what their unclaimed property risk and obligations will be after the purchase. During these transactions, unclaimed property responsibilities are too often overlooked, especially by those rarely completing such deals. However, considering the implications of the transaction and which party holds historical […]
DUNBAR NEWSLETTER Q1 2021
DUNBAR NEWSLETTER Q1 2021 Dunbar Newsletter Q1 2021 (PDF) WHAT’S INSIDE: Looking Ahead Proactive Measures Case Study: Preparing for Growth Regulatory Alert! Spotlight: Steve Kelly
MERGERS AND ACQUISITIONS IN THE BANKING INDUSTRY CAN REAP BIG REWARDS
MERGERS AND ACQUISITIONS IN THE BANKING INDUSTRY CAN REAP BIG REWARDS Mergers and acquisitions in the banking industry can reap big rewards: new customers, new product lines and an increased footprint, to name a few. But rewards often come with risk, particularly if there are unexamined or overlooked compliance challenges. One often overlooked risk area […]