Lock box confusion costs local woman

Lock box confusion costs local woman

www.wpsdlocal6.com

One local woman put most of her coin collection plus other items dear to her heart inside her safe deposit box for safe keeping. What she found out is that it wasn't as safe as she had thought, and that's why she called Local 6.

(visit the link for the full news article)

At first glance, this seems like an unfortunate, isolated case. But as I was reading this little article, I remembered a news story that has circulated since about 2006. Namely, that the DHS had notified banks of their intention and authority to inspect the contents of safety deposit boxes at will. A quick google search confirmed what I remembered, and made this story stand out a bit more than I first thought.

Since the banks are not allowed to actually tell the customer that DHS went through their SDB. The excuses they gave this woman sound apropo. On the other hand, drilling the box doesn't quite make sense. Considering the bank keeps keys for these boxes.

So I'm not sure what to make of this story. What do you think?

www.wpsdlocal6.com
(visit the link for the full news article)

Originally posted by Klassified
At first glance, this seems like an unfortunate, isolated case. But as I was reading this little article, I remembered a news story that has circulated since about 2006. Namely, that the DHS had notified banks of their intention and authority to inspect the contents of safety deposit boxes at will. A quick google search confirmed what I remembered, and made this story stand out a bit more than I first thought.

Since the banks are not allowed to actually tell the customer that DHS went through their SDB. The excuses they gave this woman sound apropo. On the other hand, drilling the box doesn't quite make sense. Considering the bank keeps keys for these boxes.

Another story that makes me glad to be Canadian, where this would be illegal. The bank only keeps one key, the customer has the other key. Safety deposit boxes are not allowed to be searched, or the contents seized, without a court order. Drilling the box is the only way to get in, without the woman's key.

I had to have my safety deposit box drilled one day when my key broke off in the lock. I had to stay at the bank for the whole process of drilling it open, and the locksmith fixing it.

I have heard before that in the US they are allowed to demand to see the contents at will, something to do with wartime. I think it was about the government being able to seize precious metals during war, but I could be wrong. But drilling without a court order is illegal. It wrecks the box, and the person has to be present for that, and the resetting the lock and key.

Sounds like some former employees pulled an inside job. This type of thing makes the mattress sound safe. I certainly will never use a SD box, but if I did, I'd check the contents on a regular basis and get to know all the bank personnel.

reply to post by MichiganSwampBuck


Somewhere in the dark corners of the DHS stronghold there is a report... this report shows how much "revenue" the organization has, for which it is unaccountable, because it is seized and un-tracked property.

Imagine... you pay for safety deposit box (lucky you)....

In it you store $5,000 cash, 6 gold coins you collected long ago, your great-grandmother's pearl and diamond ring, 3/4 of an ounce of a forbidden plant substance (you want to be ready to celebrate if it ever becomes legal), 8 Cuban cigars, 4 grams of 10-year old coc aine (form your younger, wilder years), along with various and sundry documents attesting to your birth, mortgage, bonds, etc.

You go into the vault... all that's there is your papers.

Whom do you complain to? And do you dare bring up the 'illegal' stuff that was in there... do you want to pay taxes on the unreported cash?

Free money for the Fed, no?... after all, you did put it in one of their banks..... possession being 9/10th of ownership and all that ....

Patriot Act... anyone?

reply to post by Maxmars

That's quite the scenario. And eerily plausible and probable. More like Unpatriot Act.

wow who would have thought banks ripping you off i suggest go out spend a couple of hundered sollars and buy a fire proof safe my neighbor passed recently and i bought his 90 yearold safe it is four inches thickon all sides and took three of us to move it i use it for sole purpose of starting alternative retirement fund half cash half precious metals . never trust the goverment or bank because both want your money.