Investigators say a group of thieves entered a vacant property listed for sale next to a Banco BCI branch in central Concepción and drilled through a 60‑centimetre reinforced concrete wall to reach the bank’s vault.

The operation reportedly took place between 9 p.m. on Saturday, 7 November, and early Sunday, 8 November, giving the gang roughly five hours to work inside the bank.

Inside the vault, the suspects are alleged to have used industrial oxy‑fuel cutting equipment to force open the security doors.

Initial loss estimates placed the stolen amount at over 3 billion Chilean pesos, about KSh 400 million, but later assessments raised the figure to more than 4 billion pesos (approximately KSh 534 million).

Authorities now believe the total could reach 5 billion Chilean pesos, roughly KSh 667 million, as the full accounting of the vault contents continues.

Regional prosecutor Roberto Garrido indicated that about ten suspects are thought to be involved, though the investigation has not ruled out additional participants.

Surveillance footage captured two individuals cutting cables on a nearby security camera on 6 November, two days before the heist, after which the camera feed stopped.

The Chilean Public Prosecutor’s Office and the Investigative Police (PDI) have launched a joint probe, deploying forensic teams to collect fingerprints and biological samples from both the bank and the adjoining property.

Investigators are also reviewing additional camera footage to trace the suspects’ movements and to determine whether any insider assistance was involved.

The Banco BCI branch remains closed while authorities continue their examination, and no arrests have been publicly confirmed at the time of reporting.