Barclays bank explains how fake Ksh 2B ended up in their safe
Fake Ksh 2 billion in dollars was recovered at Barclays bank Queensway branch, a case that raised many questions on how such enormous amounts of money was in a bank’s safe deposit box.
A safe deposit box is a vault located in a very secure area within the bank and rented out to customers at a fee.
20 million US dollars were recovered at one safe box by detectives and flying squad police having been tipped off.
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Barclays bank then issued a statement after that arrest distancing themselves from having known of the existance of such fake amounts in the customer’s locker.
“Barclays bank can confirm that police have taken in the customer for further questioning. The customer had concealed fake currency in his personal safe deposit box against the banks rules and regulations which include restrictions of items which can be held in the safe deposit box… The contents of personal safe boxes are not part of the bank’s deposits and are only known to the client,” said the bank in a statement.
The bank insistsed that they never know what valuables a customer stores in his or her safe box.
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Barclays bank confirmed that they are cooperating with authorities in this investigation.
Typically, customers rent safe boxes to store valuables such as jewellery or important documents as title deed.
It is understood that a safe box has two keys. One issued to the customer and the other remains in the banks. To access it, both keys are required and thus the customer and a bank representative must be present on unlocking it.