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Safe Deposit Box - The Solution for Home Invasion

The Solution for Home Invasion

October 31, 2021 V268

A lady was sleeping in her bedroom when she woke up to a sharp object at her neck. The frenemy held a kitchen knife and demanded that she reveal all her valuables. This was an actual event that happened on 17 January 2020 in Singapore. The lady lost S$37,000 and was hurt in the process. The frenemy was eventually apprehended but could this be avoided? How did influential citizens safeguard their physical assets since the beginning of time?

Another possible scenario is if five masked men overpowered a household during a Home Invasion. While his henchmen rounded up all the family members into the kitchen, the lead robber placed a black kettle on the stove. He demanded that the matriarch gather all the house valuables before the kettle boiled. They knew exactly where the home safe was, and its high-value content would provide a comfortable division of loot for them.

In premeditated case, home safes are not foolproof, and this family was betrayed.

Frenemy In The House

Look at the term frenemy, which seamlessly blends the words “fri”(end) and “enemy”. This term refers to someone who pretends to be a friend but in actuality is an enemy --- a proverbial wolf in sheep's clothing in the world of friendships. The following case would provide a good example.

Source: The Straits Times

Two years ago, we saw the unfortunate case where a daughter instigated her boyfriend and his twin brother to steal S$57,000 from her own family. The daughter, Tiffany Tan Hwee Shuan, aged 22, involved the brothers to fool her family into thinking there had been a break-in, but the truth emerged eventually. All three were jailed on 19 May 2021. Offsite storage would have saved the family a lot of grief and prevented this home invasion.

In another case, a 24-year-old deliveryman, Lai Sze Yin, dated an older married woman after delivering a parcel to her door. The married woman, Jocelyn Kwek Sok Koon, was 19 years his senior. At her alleged instigation, he subsequently cheated his parents of their life savings and his younger sister for a grand total of S$150,454. It hurts most when a trusted family member is the frenemy from within.

Higher Income Households Need Foreign Maids

DBS noted that dual income had resulted in a faster rate of wealth accumulation and enhanced financial well-being. Over the past ten years, we have seen a steady increase of dual-income households across all age groups in Singapore, according to Singapore’s Department of Statistics (Singstat).

Source: Singstat

This resulted in the necessary participation of foreign maids in the family unit. Most domestic helpers are trusted and loved by the household. We have read touching reports where the employers respected them, and in return, they defended the family with loyalty.

However, an unfortunate case of passion went wrong for a household even when the trusted frenemy’s boyfriend was far away in another country.

Source: AsiaOne (Frenemy's note to boyfriend)

This incident was only discovered when the frenemy filled in the wrong address for the parcels and the courier returned four parcels to the employer’s home. Seventy-four items – from mobile phones to foreign currencies kept aside for official travels – were stolen from the employer. Some of these items would have been better kept in a safe deposit box in an offsite facility.

Safe Deposit Options

There are diverse options for safe deposit box facilities in Singapore – DBS, OCBC, UOB, Citibank, Certis Cisco, Silver Bullion, etc. Some may require privilege status, while others are very affordable annually.

Despite all these options, some clients still prefer the ease of registration at Vault@268 safe deposit facility with robust security and come without scrutiny during registration. We provide client-orientated service policies with a 30-minute registration process. We live by our tagline: “Privacy Meets Protection”. We tailor our services to client’s requests pertaining to legacy planning.

Your privacy is highly valued at Vault@268. You can start engaging us for $888 per year for a small safe deposit box. We are centrally located at Basement 1 of 268 Orchard Road, beside Apple’s flagship store and Holiday Inn Express Orchard hotel. We have passive surveillance around our premises and two secured kiosks for the robotic arm to dispense your boxes upon retrieval. The glass door of the kiosk automatically frosts up the moment you enter until your activity is complete.

Vault@268 has four layers of access. Let’s start at the beginning. When you reach the front door, you will require facial biometric and card access to open the door. Next, you will require card access to open the kiosk door. When you are inside the kiosk door, you need your card and PIN to retrieve the safe deposit box. Once the box has been retrieved, you need keys to open the box and to lock the box after accessing the items. After that, the system will store the box with one touch command. You can then exit the kiosk and main doors to complete the journey.

You just need to come along with your card, PIN, and key. We charge one fixed fee every year and do not charge per visit to access your vault.

Source: Vault@268 – Inside the facility; clearing access door with two private rooms

Vault@268 is unmanned, and you have complete privacy. This 24-hour access will reduce the risk of home invasion as the valuables are not kept at home. Answering our question at the start of this article, influential people have stored their treasures in palaces in different places worldwide since the beginning of time. Russian oligarchs stash their wealth in safe havens and yachts globally.

Influential people have understood the importance of stashing their valuables across different jurisdictions. To preserve their wealth, they purchase portable assets globally and store their valuables in offsite storage facilities globally. They plan these steps because they know that circumstances can move against them.

They have seen how US warrants contravened local laws and there are no good options. It is cringe-worthy how assets can be seized by US, European, Japanese and Russians authorities due to the Russian-Ukraine conflict. Bank accounts can be blocked globally; and they might not be able to access their funds in overseas economies. This comes as a surprise to some influential people when they realize that they are drained of purchasing power overseas.

Therefore, they never stash all their eggs in one basket, and this blueprint has proven to work even today. Famous and wealthy families had ingrained and passed down these lessons to their younger generations. The current Russian-Ukraine conflict is just one of the recurring risks for wealthy families globally.

If you require more information about Vault@268 and our services, do feel free to reach out to us via email at vault@268.com.sg