2023 Safe Deposit Reg. Compliance & Security Virtual Rec.

Member: $ 375
Non-Member: $ 475

Speaker: Dave McGuinn, Safe Deposit Specialist 

This recording is from a 1-day instructor led program held on May 17 via Zoom. Recordings are 2 MP4 links. Electronic materials will be sent as well.

Did you inherit the safe deposit area and then start wondering what liability might exist? Historically, this responsibility has been routinely passed from employee to employee with little attention given to existing procedures or documentation. Unfortunately, only after a serious employee mistake or a disaster, burglary or lawsuit occurs, does management turn its attention to this area.

This virtual seminar will answer many thought-provoking questions and address the following topics:

Security and Disaster Recovery Issues: (10:00am – 12:00pm)

  • Why did the FBI and DEA drill boxes and seize all the renter’s contents
  • Why did five (5)years of drilled box contents vanish during a burglary?
  • How did $400 million in contents disappear during a vault burglary?
  • How can FDIC or NCUA signs, logos or brochures create liability?
  • Why will you lose any lawsuit if renters are left in the vault alone?
  • How should employees be trained to answer security questions?
  • Why should renters receive a “No Insurance” disclosure form?
  • Why are many nationwide vault burglaries now on the rise?
  • What thirty questions will always be asked in any lawsuit?
  • Are you leaving your locksmith in the vault alone? “BIG MISTAKE"

Regulatory Compliance and Legal Issues: (1:00pm – 3:00pm)

  • Why was a wrong box drilled and the contents remitted as unclaimed property?
  • Who can legally access and remove contents from any deceased renter’s box?
  • What seven suspicious safe deposit activities require you to submit a SAR?
  • Can you title a lease as a “living trust” or add a “payable on death” clause?
  • What should you do if dangerous contents are found in a past due box?
  • Why are institutions being sued after incorrectly drilling renter boxes?
  • Does the Servicemembers Civil Relief Act apply to past due boxes?
  • What careful wording should be used in a FINAL past due notice?
  • Does “Beneficial Ownership of Legal Entities” apply to boxes?
  • Should a power of attorney be used to enter a renter’s box?
5/17/2023 - 11/17/2023

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