A secure storage offering provided by financial institutions where customers can rent boxes to store valuables such as documents, jewelry, or precious metals. These services provide both security and confidentiality for depositors.
Main/
Safe Deposit Box Services
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Code
PS0090
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Name
Safe Deposit Box Services
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Version
1.0
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Category
Deposit & Account Services
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Created
2025-03-14
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Modified
2025-04-02
Related Techniques
- Bearer instruments can be physically stored in a secure box, out of direct oversight by financial institutions.
- Criminals can transfer control of the instruments simply by handing over box access, avoiding traceable transactions.
- Allow criminals to place physical cash, precious metals, or other valuables beyond standard transaction records, obscuring the origin and movement of illicit assets.
- Facilitate secrecy through lax or minimal identity checks, including the use of third parties or false identities, thus impeding beneficial ownership tracking.
- Enable staggered or phased withdrawals/deposits of illicit funds to avoid detection thresholds, aided by rental fees often paid in cash.
- Provide a secure environment where contraband (e.g., drugs, firearms) can be stored alongside illicit assets without immediate scrutiny.