Faqir Malyar, a carpet trader from Gelsenkirchen in western Germany, was driving to see a customer over the Christmas holidays when he heard an astonishing news report on the radio: thieves had drilled into the vault of a local Sparkasse savings bank and emptied nearly 3,250 safe deposit boxes.
The robbery, which a police spokesperson compared to the Hollywood film Ocean’s Eleven, made headlines around the world. Estimates suggest the stolen items could be worth up to €300 million (£260 million), potentially making it one of the largest bank heists in a country all too familiar with such crimes.
Lead investigator André Dobersch called it an “unprecedented crime” and criticized social media attempts to downplay its seriousness. “We’re not talking about safe-crackers in a comic,” he said, “but about criminals who’ve caused sleepless nights … and destroyed livelihoods.”
For Malyar, the news was deeply distressing. He kept his savings and family heirloom jewelry at that very Sparkasse and now fears his dreams of retiring soon with his wife have been shattered.
“I hoped against hope that my deposit box wasn’t one of those that had been plundered,” said the 67-year-old. But after waiting 45 minutes on a bank hotline, he was told his box—number 1,413—was among the thousands emptied. “I felt as numb as if I’d had an injection,” he recalled.
Police believe the theft took place over four hours on December 27. The thieves entered the bank from an adjacent car park through a tampered emergency exit, then used a 300kg drill to bore a hole into the vault wall.
Officers were alerted 48 hours later when a fire alarm went off, arriving to discover the break-in. CCTV footage shows masked suspects—thought to be five to seven men—leaving the car park in a black Audi and a white Mercedes van, both with stolen license plates. Three weeks after the heist, the suspects remain at large.
In the days following the robbery, angry and emotional customers gathered outside the bank, chanting “let us in” and demanding answers. Malyar and thousands of others who lost money and valuables are pressing the Sparkasse for explanations: What security measures were in place? Were the surveillance systems adequate?
Jürgen Hennemann, an insurance lawyer who has represented victims in more than two dozen German bank robberies since 2012—most involving savings banks—said criminals are growing bolder as banks fail to address security weaknesses.
“The banks have been constantly warned over 13, 14 years that they are in the crosshairs of organised crime,” he said, noting that many still haven’t taken sufficient action. The result, he added, is that “the attacks are getting more and more intense; the robberies are happening ever closer together.”
Hennemann is also representing customers of a Sparkasse in Norderstedt near Hamburg, where in a spectacular 2021 heist, criminals rented the apartment above the bank, drilled through the concrete ceiling, and accessed 650 safe deposit boxes. Losses there are estimated between €11 million (according to the bank) and €40 million (according to customer lawyers).
Klaus Nachtigall, the former head of Berlin’s criminal polA former police officer, now working as a security consultant, said he was not surprised by the theft in Gelsenkirchen: “There are so many cases like this now, but financial institutions don’t seem to learn from them.”
“It’s frustrating to know these crimes are preventable. If security systems are working properly, an alarm should sound at the first sign of debris falling from a wall,” he told local media.
So far, the Sparkasse network—which includes about 342 banks serving around 50 million customers—has said it can provide little information while the police investigation continues. About 230 officers have been assigned to “Operation Drill.”
However, in a statement, Sparkasse Gelsenkirchen defended its security measures. “We can only say that our security technology meets recognized state-of-the-art standards. We ensure this through our work with specialist companies. In the last two years, the burglar and fire alarm systems in our buildings have been inspected and upgraded,” it said.
Michael Klotz, head of the Gelsenkirchen branch, said both the bank and its customers were “victims of a burglary carried out with high criminal energy and complex technology.” He told the local newspaper WAZ that they are in a “constant race between security technology and criminals.”
For those who lost their savings, that is unlikely to bring much comfort. Many people said their safe deposit boxes contained items worth €40,000 or more. A number have been shocked to learn that basic insurance covers only up to €10,300 per box.
Hans Reinhardt, a lawyer preparing to represent many of the Gelsenkirchen victims in potential legal action, said his clients—including one man who had planned to fund his retirement with €600,000 in gold bars stored in the vault—saw these items as protection against catastrophe.
“Many people told me that, out of fear of war and inflation, they had moved away from stocks and bank accounts and invested in gold instead. Some said they kept larger amounts of cash on hand so they could access it quickly if needed,” he said.
Meanwhile, Malyar, whose carpet shop is around the corner from the bank, said his store has become a meeting point for victims. “I serve tea,” he said. “I’ve become something of a counselor to those in the same situation who stop by to share their troubles with me.”
Frequently Asked Questions
Of course Here is a list of FAQs about the German safe deposit box theft written in a natural conversational tone with clear direct answers
Basic Information The Event
1 What actually happened
Thieves broke into a bank vault in Berlin Germany and looted approximately 3000 individual safe deposit boxes They drilled into the boxes and stole the contents
2 When and where did this happen
The burglary took place at a branch of the Volksbank bank in the Charlottenburg district of Berlin The crime occurred over a weekend but was only discovered when the bank reopened
3 Who was affected
Around 3000 bank customers who rented safe deposit boxes at that specific branch These are regular people families and possibly small business owners who stored valuables there
4 What kind of things were stolen
While the full inventory is unknown safe deposit boxes typically contain valuables people dont keep at home cash jewelry family heirlooms important documents gold coins and sentimental items with little monetary but high personal value
Impact Responsibility
5 How did the thieves pull this off
Reports indicate it was a highly sophisticated operation The thieves entered an adjacent building tunneled through the basement broke through the vaults concrete wall and then spent hours or days systematically drilling open the boxes
6 Is the bank responsible for my losses
This is the most critical and complex question Typically the rental contract for a safe deposit box limits the banks liability to cases of gross negligence The bank will argue this was a criminal act they could not foresee Customers will argue the security was insufficient constituting gross negligence This will likely be decided in court
7 Will customers get their money or items back
Direct recovery of the stolen items is very unlikely The primary path for compensation will be through insurance claims or lawsuits against the bank to prove liability
8 What should affected customers do right now
File a Police Report Immediately report the specific contents of their box to the police
Contact the Bank Formally notify the bank of their claim
