This project aims to analyze unclaimed property data to assist financial and accounting institutions in auditing and reporting unclaimed assets in compliance with state laws.
Problem Statement: Unclaimed property is a significant issue for financial entities that manage large volumes of unclaimed assets. The project seeks to identify the main types of unclaimed property and the holders with the most unclaimed assets.
Analysis: The project involved data wrangling of datasets from California and Massachusetts, focusing on property types and holders. Financial institutions were identified as the primary holders of unclaimed property.
Results: Dashboards were created to visualize the number of unclaimed properties, rankings by property types, and trends over time. The analysis highlighted the importance of checking and savings accounts among unclaimed assets.
Solution: The project provides insights that can help financial institutions audit their unclaimed assets and comply with state unclaimed property laws. It emphasizes the need for banks to focus on checking and savings accounts.