5 ms·
Banks literally do have to perform money laundering checks on deposit boxes.
by Mindwipe 5y ago
Banks literally do have to perform money laundering checks on deposit boxes.
- jes 5y agoCan you say more about this? I have never heard about this. To my knowledge, my bank cannot access my safe deposit box without my key or without drilling and replacing the lock my key opens. Am I mistaken about this?
- jamjamjamjamjam 5y agoYes
- monocasa 5y agoThey have their own copies of the keys.
- volkl48 5y agoI don't believe this is correct. You can't launder money with a safe deposit box, so it makes no sense to have to conduct money laundering checks on one. Standard rental agreements explicitly state that the bank does not retain a key and is unable to open the box (without destroying the lock) in the event that you lose yours. For example: https://www.bankofamerica.com/content/documents/deposits/safedepositbox_disclosures.pdf https://www.bankofamerica.com/content/documents/deposits/saf... "The bank does not retain duplicate keys for any rented box".