Safety Deposit Box Heist in London Reminder of Need For Insurance and Top Level Security

Monday, April 13, 2015
By Paul Martin

By: GoldCore
Monday, 13 April 2015

– One week on and police appear no nearer to catching those responsible
– Crime only seems more audacious with every new detail that emerges
– CCTV has given tantalising glimpse of the six men who went into vaults
– Many victims of Hatton Garden robbery had all their wealth uninsured in safe deposit boxes
– UK as a jurisdiction has not been very secure in recent years, with numerous high-profile heists in London
– Diversification on every level is key, including way and where bullion is stored

The highly-organised Easter weekend safety deposit boxes raid at a facility in Hatton Garden, London, demonstrates once again that holding tangible assets outside of the fragile banking system is a risky exercise, if the manner in which those assets are stored is not thoroughly secure and fully insured.

While many of those who stored valuables in the boxes were jewellers, reports are emerging of how some of the victims had their entire life savings, including cash and bullion, in boxes which they believed to be secure. Many had no insurance partly because they could not afford the extra cost and partly because they were convinced their property was secure in the Hatton Garden facility.

“The robbery was reported on Tuesday but by Friday we had still not been told whether our stuff had been taken” said one jeweller who asked to remain anonymous. “I had £350,000 worth of cash and jewels and I was in a terrible state”.

“By Friday, some of us owners had had enough and each paid the staff at the building £100 to have a look at the list of boxes missing. Mine was fine but a friend had his life savings completely stolen, worth £500,000.”

The Rest…HERE

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