So how can you protect your money?
The great heist will star the Government's very own Wayne Swan who has devised a super plan to take from people's savings and pocket in Government coffers.
It's a raid on inactive bank accounts and super funds - a perfect ploy to plug the Government deficit.More stories from Today Tonight
The law was rushed through late last year, and is set to have a very real impact. The Government estimates it'll raise around $800 million from money taken from unclaimed accounts.
From May it plans to collect $109 million from bank accounts and insurance policies which have been untouched for three years, and $675 million from inactive super accounts which contain less than $2000.
In the past if you failed to make a transaction on your bank account for seven years it was declared inactive and transferred to the Australian Security and Investments Commission. Under the new changes that will happen within three years and will affect long term savings accounts and trust funds.
This reporter is on Twitter at @LyndaKinkade
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