Government and Safe Deposit Boxes

Zohar

I learned from a friend that Citi is asking people for the contents of their bank boxes, demanded by government. If that is indeed a new policy, this approach by government is starting to worry me. Anyone heard of this?

JCMhouston

The IRS is still supposed to show probable cause is my understanding. Homeland Security is another matter though. I have not heard of any banks making general enquirys about contents, generally if they ask it's a good sign to go ahead and empty it since someone in the government is asking about yours in particular.

And yes, I have a tin hat to keep the government from scanning my brain waves.

Bailathacl

Seems to me the legitimate Homeland Security interests could be answered by asking what is NOT in the box, e.g. explosives, chemicals, and the like. Query whether it is the bank's policy (hiding behind vague government requirements) or strict government policy at work here. Wouldn't be the first time a bank did things for their own convenience while blaming the government, and I'm particularly distrustful of Citibank.

Zohar

Isn't Citibank government
I am looking at it from the government control standpoint. There is one thing as to IRS reporting etc. There is another about mapping people's assets and/or levying additional taxes. This is what was done in other parts of the world. In that case, coins go under the matress.

canadacolornut

Mattresses, hollow Teddy Bears.

And coffee cans buried in the back yard

RobP

<< <i>Mattresses, hollow Teddy Bears.

And coffee cans buried in the back yard >>



And 500 years later our descendants go around with a metal detector and find hoards of hidden cons and other treasure. Vive la difference.

sumnom

You could probably just ask Citi and find out if it true.