bank of america safe deposit boxes missing

You might think that because it’s called a “safe” deposit box, banks would have insurance to reimburse their clients in the event of a theft or loss. Although they operate within the highly regulated banking industry, safe deposit boxes have no federal laws protecting those who rent them and no requirements that banks compensate customers for lost or stolen items. There are nearly 25 million safe deposit boxes in the United States.

Just two years before the Conroe heist, several East Coast banks had also experienced a rash of similar vault break-ins. Sadly, it was not the first time criminals had picked a bank’s safe deposit customers clean. In 2018, shortly after midnight, thieves cut a hole in the Woodforest National Bank’s roof in Conroe, Texas, lowered themselves into the vault below and began emptying the contents of dozens of safe deposit boxes.īank customers lost thousands of dollars in cash, collectibles and jewelry.

It was like something out of a classic heist movie.

”Safe deposit boxes can be a great tool, but only if you know what NOT to put in them.” - Lyle Boss

Bank of america safe deposit boxes missing