Our current procedures dictate that a bank employee accompany shred bins to the parking lot for our vendor to shred. An employee must remain with the vendor until shredding is complete. We are thinking about relaxing these procedures. Could anyone share with me how they handle this process? Thanks.

If the vendor is reputable and bonded ... then I say let them do their job. But like your situation ... I know of several community banks that follow the same protocol. It usually gives someone a chance to take an extra break about once a week ...

You could continue to take the "better safe than sorry" approach ... because there is always a concern when non-bank persons handle sensitive information. But bank employees can (and do) exploit sensitive information as well. (But how can you monitor the files and records they may carry with them outside the bank doors?) Your bank is likely to make the news if a breach occurs either way.

I strongly feel that a Bank employee should accompany and be present for the on-site shredder. You never know, even if they're insured, bonded, agreements in place, etc....

Pizza Queen ... well-said.

The employee screening processes at a bank and document shred vendor should be equivalent ... but that's where the "due diligence" of the vendor comes into play (in hopes they hire "honest and trustworthy" people). Bottom line -- unfortunately -- all the screening, monitoring, agreements, etc. will not prevent a security breach. In order to combat this ... it's a good idea to have two persons present -- and your suggestion accomplishes this by having a bank employee accompany the vendor. How would you feel if two employees from the vendor were the only persons that accompanied the shred bins to their final destination (and no bank employee was involved)?

I'm not sure. I guess that you have to accept some risk in order to do business, but it makes me uncomfortable because of the obvious sensitivity of the information. I've requested a copy of the vendor contract to see what security procedures they have agreed to.

But if, for some reason, confidential information were to leak out there isn't a contract in the world that will protect your reputation when word leaks out to the public that 'XYZ Bank' allowed confidential information to leave the bank.

Just my $.02 worth.