It's great to see a topic generate such immediate interest!
Your employee handbook is your MOST valuable loss prevention tool and you should use it to describe the terms and conditions for both initial and continuing employment. This is definitely one of those issues that should be addressed there. And remember to use the phrase "initial and continuing" when you refer to your business practices.
Embezzlers are infamous for stealing from their institutions -- and then wiring or physically depositing the stolen funds into their own accounts at the same institution. This may sound stupid -- but it's an established fact.
If you gather information during the normal course of business, you may inspect those same records as a normal business practice. You don't need to notify the account holder of this inspection, regardless of the type of account relationship.
Work with your legal counsel to draft appropriate wording for the institution's policy and the employee handbook -- and perhaps issue an explanatory notice to your employees, as a reminder of your business practice.
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Dana Turner
Security Education Systems
danaturner@bankersonline.com
830-535-6500