Bank has broken under the guise of restructuring.
On August 27, 2011, at 11:50 pm, a group of people in gray uniforms entered the Banco Itaú Bank in So Paulo, Brazil, undergoing renovations. The security guards in the basement parking lot did not suspect them because they pretended to be people who had come for interior repairs.
They entered the bank, took control of the security guards on the main floor, and turned off the alarms. Then a second group, armed with special equipment that could break bank vaults, was brought in. Meanwhile, a group of five people was standing outside, informing inside about what was happening outside.
In the next 10 hours, they stole goods from 170 safes belonging to 120 wealthy bank customers. In the meantime, I ordered food from outside. The following day, they were free, with money, antique luxury watches, gold, red gems, emeralds, and many diamonds. They were valued at about $ 58.5 million.
Only a tiny amount of the stolen goods were insured. Usually, a bank does not ask customers about what they keep in their safe. Banco had an $ 8,800 warranty on a safe from Itaú and a separate insurance cover for up to $ 117,000. Many people ignored it, and in the end, something unexpected happened.
The bank had to bear the same liability and loss as an airline when their plane crashed. About 70 managers were relieved of their daily duties and deployed to inform customers that their goods had been stolen. Forbes reports that many consumers even needed medical help because of the trauma.
The robbers did not fire a single bullet during their stay in the bank. They left food wrappers, wall hangings, a burner, and a chain saw in the bank.
You would have thought that the police would have acted immediately after so much had happened. This is because it is mandatory to work within 48 hours of a crime to get the correct evidence. However, the police resumed their duties a week later. The security guards at the bank had been questioned for more than 11 days, and as a result, the bank customers had to deploy private investigators (detectives) at their own expense.
The reason for the investigation’s delay was that the Sඕo Paulo police had taken bribes from criminals. Incidents involving bribery in the country’s police history have further fueled that view. It was later discovered that some of those involved in the robbery were also involved in the Brazilian Central Bank scandal mentioned in the previous article.
The robbery and the ineffective investigation that followed highlighted the security challenges that Brazil still faces. Despite significant progress in some areas, such persistent crimes continue to have a devastating effect on the country’s economy. This wave of crime has become one of Brazil’s most significant obstacles to move forward as a country and become a prosperous country in the coming decade.