SAFETY DEPOSIT BOX-WARNING FROM FORMER VP AT A VERY LARGE BANK IN CHARGE OF SAFETY DEPOSIT BOXES
Steve:
I was reading this link on your site this morning: https://www.nytimes.com/2019/07/19/business/safe-deposit-box-theft.html and please let your readers know that they should never put their metals or cash in a safety deposit box! Ever!!
I used to be a VP at very large bank and managed pieces of the SDB program and since the Patriot Act was put in place it is illegal to keep such items in there because it violates the anti-money laundering laws. The banks have the right to drill and confiscate the contents if they suspect such items are in the SDB. Moreover, they may also submit a Suspicious Activity Report to the Feds which will potentially get you a generous cavity check.
Blessings, Clark
Jul 22, 2019

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