How did thieves access the Gelsenkirchen bank vault?

Police say the crew drilled from a neighboring parking garage into the vault, then forced open more than 3,000 boxes. The hit coincided with holiday closures, reducing activity around the site. Investigators are reviewing CCTV, tool marks, and entry paths to map roles, timing, and possible scouting work.

Are Sparkasse safe deposit boxes insured for contents?

Generally, safe deposit boxes provide storage only. Contents are not insured by a deposit insurer, and banks limit liability in box contracts. Owners should arrange private insurance with updated appraisals and photos. In Canada, CDIC does not insure box contents, so similar private coverage is essential.

What should Canadian investors watch after the German bank heist?

Watch for branch security audits, retrofit plans, and clearer client disclosures. Track operational risk commentary on adjacency controls and holiday monitoring. Any uptick in capex for sensors, wall hardening, or outside patrols matters, along with client retention at branches with boxes. Reputational responses are as important as hardware.

Is it safer to store gold at a bank or a private vault in Canada?

A bank box offers discreet storage but usually no insurance for contents. Private vaults may provide audited, insured custody with 24/7 monitoring, at higher cost. Match the choice to value, access needs, and documentation. Ask for written proof of insurance, surveillance details, and incident response times.

Law and Government

December 31: German Bank Heist Explained After €30M Vault Theft

ByHuzaifa Zahoor January 1, 2026January 1, 2026

The German bank heist in Gelsenkirchen, where thieves breached a Sparkasse vault and stole an estimated €30 million, is a clear warning for Canadian customers and investors. Criminals drilled from an adjacent parking garage, forced open more than 3,000 safe deposit boxes, and struck during holiday closures. We explain what happened, why Sparkasse safe deposit boxes matter to risk management, how holiday bank security gaps arise, and what Canadian clients and bank shareholders should do now to reduce exposure and track near‑term cost and reputation effects.