Regardless of the size of your safe deposit operation, it is wise to proactively review and tweak your procedures to reduce the prospect of losses and claims. This presentation provides a realistic and well-organized method of reviewing your procedures before a lawsuit occurs. Your presenter knows firsthand what to look for, from the most common errors to the not so common, but costly, mistakes.
Most safe deposit box disappearance claims and lawsuits and the news media coverage that inevitably follows them are a direct result of insufficient employee training, incorrect box drilling and safekeeping procedures, unauthorized vault access, improper box relocations, vault burglaries, flooded vaults, sloppy record keeping and retention and offering the new self-service box concept.
This webinar will address:
- What terrible things can happen if you're leaving anyone in your vault alone
- Why numerous safe deposit disappearance claims occurred recently
- How poor "Box Relocation" procedures caused a $5.5 million lawsuit
- What thirty questions will always be asked in any safe deposit lawsuit
- Why an institution was sued for $30 million after an internal box theft
- Why sloppy box drilling procedures created a $4.5 million lawsuit
- The scary aspect of locksmith tools that will open boxes in seconds
- How the SCRA create significant liability when delinquent rent is collected
- Why several vault burglaries caught the attention of TV's "Inside Edition"
- What caused CBS to create three recent safe deposit television specials
- Why it's a BIG MISTAKE to leave a locksmith in your vault alone
- Why offering self-service boxes can cost you millions in losses
Who Should Attend?
This informative program is designed to update safe deposit supervisors, vault attendants, cashiers, branch managers, compliance officers, auditors, training directors, security officers, new account personnel and your in-house legal counsel.
Safe deposit lawsuits: 25 lessons learned
Questions and Answers