Flying squad discovers FAKE cash inside Barclays bank safe QUEENSWAY branch

#83
Developing Story:
Billionaire businessman Jimmy Wanjigi, controversial British born lawyer Guy Spenser Elms, Chairman of Unclaimed Financial Assets Authority Katwa Kigen and Criminal Lawyer Cliff Ombeta have arrived at Barclays Bank HQ - Queensway Towers moments after Special Crimes detectives carted away 17billion in 'fake' currency hidden in a safe following a tip-off.

@spear and Itumbi hii ni kazi yenu
 

County34

Senior Villager
#84
This story does make any sense at all
First,when one deposit cash in bank account,the value is posted in your account as the bank take ownership of bank notes for normally circulation
Hence you can deposit in kibera and withdraw from kisumu,will you demand to be given the same bank notes in kisumu?
For a bank to agree to deposit such they must satisfy themselves that the source of the cash is genuine as per PROCAMLA (proceeds of crime and anti money laundering law) 2012
Then there is a process of confirmation of cash when giving the bank,the bank must confirm cash from client before accepting responsibility of posting the value in your account
There is also issue if insurance cash cover,it can be very expensive to have such cash covered on single day I don’t think even Barclays cash centre has such cash limits and storage
Then there is issue of CIT,in such cases the customer is normally advised to take the cash to the cash centre of the bank as opposed to the branch, it’s very prudent way of managing cash and CIT cost,the branch may not have the capacity to confirm such cash 170m USD
Then issue of CBK prudential guild lines on cash management,what is this that has to be paid in cash
 

M2Random

Village Sponsor
#87
Btw I have been thinking; banks have cash limits that once they hit it they transfer the money to CBK. I have personally been involved in such a process as a teller...so unless this was contravened by BBK or the cash had not been recorded in their banking system then kuna kitu hai add up...
Banks have safety deposit boxes etc which means you can store millions in a bank, without having it in the banking system.
 

M2Random

Village Sponsor
#88
But I'm doubting their version of safe deposit box.
The amount of money that can fit in a safe deposit box cannot even make village headlines.
Really?? What if it is in Sterling pounds?? 50's would amount to a substantial sum in a small box of say 50 cm by 30cm by 15 cm. The size of your office desk drawer.
 

Shegaj

Village Elder
#89
Read the Barclays bank statement on the issue,
Im surprised that one can put ANY amount of money in their safe deposit box.
My question is if the bank does NOT verify whats stored in the boxes or safe what happens in the event of lets say a fire incident, terror attack etc or even a bank robbery, how will the customer be compensated??
If something bad happened at the branch would the bank have paid REAL money for the FAKE in terms of compensation?
 

Randy

Village Sponsor
#93
Read the Barclays bank statement on the issue,
Im surprised that one can put ANY amount of money in their safe deposit box.
My question is if the bank does NOT verify whats stored in the boxes or safe what happens in the event of lets say a fire incident, terror attack etc or even a bank robbery, how will the customer be compensated??
If something bad happened at the branch would the bank have paid REAL money for the FAKE in terms of compensation?
Leta link...
 

M2Random

Village Sponsor
#95
Hehehe....Uko na mchezo.
Wewe ndiye uko na mchezo sir. Simaanishi 2 billion Ksh zitoshee kwa drawer. Lakini 50s za sterling zinatoshea an office drawer ni enough cash to make news. You can fit 36,000 notes in a typical big drawer. If all those notes are 50 sterling pounds each, that is 1.8 million pounds and at 133 Ksh that is 239 million Ksh. That amount is enough to make news.
 

Randy

Village Sponsor
#97
Wewe ndiye uko na mchezo sir. Simaanishi 2 billion Ksh zitoshee kwa drawer. Lakini 50s za sterling zinatoshea an office drawer ni enough cash to make news. You can fit 36,000 notes in a typical big drawer. If all those notes are 50 sterling pounds each, that is 1.8 million pounds and at 133 Ksh that is 239 million Ksh. That amount is enough to make news.
A 50 Pound Sterling Note weights about 1.21 g and has a size of 156 x 85 mm. The amount of £ 1,000,000 would have in 50 Pound Sterling Notes a weight of 24.20 kg. A single stack of money with 20,000 new banknotes would be 2.66 m (2.91 yards) high und would have a volume of at least 35.27 litres.
 
#98
Wewe ndiye uko na mchezo sir. Simaanishi 2 billion Ksh zitoshee kwa drawer. Lakini 50s za sterling zinatoshea an office drawer ni enough cash to make news. You can fit 36,000 notes in a typical big drawer. If all those notes are 50 sterling pounds each, that is 1.8 million pounds and at 133 Ksh that is 239 million Ksh. That amount is enough to make news.
Mbona pounds zinakujazz sana?Dollars would be more. 36,000 of hundreds would be more than sh360m.
 
#99
Spoke to a mtu mkubuwa.

And he told me Kenyans are buying huge safes from Dubai and no longer putting money in the bank...

First of all Dollars, these days are super hard to print and fake. Banks do a number of tests before you can deposit the cash. Some of you must have never touched dollars.
 

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