Analysing Unclaimed Money in New South Wales Australia using Generalised Linear Models (Undergraduate Capstone Project)
Apps08.osr.nsw.gov.au,. 'NSW Office Of State Revenue'. N.p., 2015. Web. 30 July 2015. (https://www.apps08.osr.nsw.gov.au/erevenue/ucm/ucm_list.php)
This research takes a look at both the monetary value and the number of accounts containing unclaimed money across NSW. Unclaimed money is the money held by the NSW state government that is given by an entity but remained uncollected by the recipient for some amount of time. The period of inactivity has been defined as 7 years for accounts held before December 2012, 3 years for accounts held between December 2012 and May 2015, and 7 years for those held after May 2015.
The question we have addressed is the effect of the area, organisation type, year account was opened and year account was classified on the number of accounts as well as the monetary value.
Data is available for unclaimed money for 380,671 accounts, going back to the year 1900. Methodology involves data visualization using Tableau, a drag and drop tool used for visual exploration, as well as R for merging, cleaning, sorting and GLM analysis.
Unclaimed Money is a public data set that has attracted little interest due to its lack of profitability for those without a claim to any of the money.
Some analysis takes place through businesses which locate claimants and offer claiming services in exchange for a percentage of the claim. However, this ignores the vast amount of money held in small amounts across many accounts.
The Australian Securities and Investments Commission is tasked with locating and informing claimants of monies but have expressed lack of resources, and an overwhelming number of accounts, due to law changes.
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Apps08.osr.nsw.gov.au,. 'NSW Office Of State Revenue'. N.p., 2015. Web. 30 July 2015. (https://www.apps08.osr.nsw.gov.au/erevenue/ucm/ucm_list.php)
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Osr.nsw.gov.au,. 'About Unclaimed Money | Office Of State Revenue'. N.p., 2015. Web. 30 July 2015.