Quora Answer: After a Bank Robbery, What Happens to the Money Recovered?

The following is my answer to a Quora question: “If, for example, a bank was robbed of $5 million, and the robbers were caught and sentenced, what happens to the money if it is recovered?”

Retail banks have insurance against theft.  Once a robbery has taken place, the bank will file a claim.  Once that claim is approved, the amount will be paid out by the insurer.  This may take several months, since there is an ongoing investigation, and a report and investigation findings is required.

In the interim, should the funds be recovered, the money will go through processing under the prevailing evidence management legislation and procedure.  That money is evidence in a criminal trial, and will be kept by the police.  Once that trial is over, the funds are given back to the owner, or the insurer if the policy had paid out to the bank.