I don't believe this is correct. You can't launder money with a safe deposit box, so it makes no sense to have to conduct money laundering checks on one.

Standard rental agreements explicitly state that the bank does not retain a key and is unable to open the box (without destroying the lock) in the event that you lose yours.

For example: https://www.bankofamerica.com/content/documents/deposits/saf...

"The bank does not retain duplicate keys for any rented box".

Can you say more about this? I have never heard about this.

To my knowledge, my bank cannot access my safe deposit box without my key or without drilling and replacing the lock my key opens.

Am I mistaken about this?

They have their own copies of the keys.

Yes