Vijayapura, Karnataka — May 25, 2025 In a daring heist that has stunned both law enforcement and financial institutions, gold jewellery worth nearly ₹53 crore was stolen from the Canara Bank branch in Managuli, Vijayapura  district. What’s raising eyebrows isn’t just the scale—but how easily the robbers bypassed traditional security systems.

Inside Job with Duplicate Keys and Disabled CCTV

According to the Karnataka Police, the theft was orchestrated by a former branch manager, Vijayakumar Miriyala, who allegedly made duplicate keys of the vault months before his transfer. With two accomplices, he returned after dark, disabled CCTV systems, accessed the locker without any sign of forced entry, and escaped with nearly 59 kg of gold ornaments.

Investigators believe the plan had been in motion since March. Shockingly, there were no alarms or breach notifications, and the robbery was only discovered the following morning. As of now, police have recovered around 10.5 kg of stolen gold and arrested all three suspects.

Traditional Locks Under Scrutiny

The incident has triggered a wave of concern across banks, jewellery showrooms, and warehouses, where physical locks and keys remain the first line of defense. Experts now say that the reliance on outdated mechanical locking systems may no longer be sufficient—especially when insiders are involved.

"Duplicate keys are the simplest and oldest trick in the book," said a senior security consultant based in Bengaluru. "What makes this case alarming is how silently the heist was carried out without setting off a single alarm."

Could Smart Shutter Locks Have Prevented This?

With the spotlight now on smart physical security, companies are turning toward digital access management and tamper-detection systems.

One such solution gaining traction is the IKIN Intelligent Shutter Lock by Kerala-based firm Ikin Global, a smart access control product tailored for high-security environments like banks, gold vaults, showrooms, and warehouses.

Key Features of the IKIN Intelligent Shutter Lock:

• Keyless operation: Access is managed via a secure mobile app and admin authentication.
  

• Real-time monitoring: Lock status and access events are tracked in real-time via a dedicated gateway.

• Tamper alerts: Built-in sensors detect forced entry and trigger a hooter alarm and flashing light.
  

• Independent power: Internal battery operation removes dependency on external power sources—reducing vulnerability.
  
  

Had such a system been in place at the Managuli branch, the duplication of keys and unauthorized nighttime access could have triggered alerts before any gold was touched.

 A Wake-Up Call for Facility Security

In the aftermath of the ₹53 crore theft, banks and high-value storage businesses are reassessing their security posture. The trend is clear: digital integration and proactive detection are the future of asset protection.

Technologies like the IKIN Intelligent Shutter Lock offer more than just a lock—they provide a real-time, tamper-aware security perimeter that traditional methods can’t match.

As investigations continue in the Managuli case, the message to institutions is loud and clear: modern problems demand intelligent solutions.