Only 1,700 people have lodged demands for Sh42 million with the Unclaimed Assets Authority, which has received Sh6 billion in the past year.
The Unclaimed Financial Assets Authority (Ufaa) chief executive, Ms Kellen Kariuki, said Kenyans whose relatives had died and those that lost contact with their banks, insurance companies and former employers must check with Ufaa regularly to ascertain if their money has been forwarded to it.
“We have Sh6 billion with us to re-unite it with its rightful owners and it is upon the claimants to prove they are the rightful beneficiaries. We shall only pay when proper details have been given to us,” she said.
The Ufaa boss made the remarks when she signed a memorandum of understanding with the Integrated Population Registration Services (IPRS) director, Mr George Anyango, enabling the authority to ascertain identity of all claimants before payments are made.
The IPRS director said use of the database by public and private sector players had enhanced business innovations, especially in online banking and e-commerce, where identities can be verified at the click of a button.
“The system is foolproof and allows individuals registered with certain entities to use their registered phone numbers and email accounts to transact business.
That is our mandate to Kenyans that no innovation that boosts business should be hindered by fraud and forgeries in matters identity,” he said.