Since the first day we opened, providing the highest level of precious metals depository security has been the IDS Group’s top priority. There are many levels necessary to maximize client protection when talking about security; physical barriers, alarm systems, and data protection combined with stringent policies and procedures when handling customer assets. Security is the primary focus in every aspect of each facility in Delaware, Texas, and Canada, from their initial design to ongoing upgrades in procedures and systems.
IDS Group’s secure facilities are state-of-the-art. Each facility is constructed with impenetrable walls, internal barriers, and locks that require several methods of verified access before someone can enter the facility. Additionally, each IDS Depository features several class III gold vaults, the highest possible gold vault rating. The multi-redundant, UL-rated alarm systems are monitored in real-time, 24/7 by off-site security specialists.
Internally, the IDS Group follows best practices with respect to customer assets, following a strict protocol of control measures, including the implementation of stringent “dual control” procedures and perpetual audits (internal and external) on inventory as well as “separation of duties” methodologies, when processing depository transactions.
All client assets are held in “custody.” As such, clients’ metals are stored in segregated, client-specific accounts, off of the IDS Group’s balance sheet. In other words, the client’s precious metals are held as bailment and not as a deposit or consignment. This offers protection to the account holder because assets cannot be seized to pay depository debts.
IDS Group has strict, proven processes that ensure clients’ precious metals deposits are secure, investors’ data is kept private, and it ensures discreet and confidential treatment of all aspects of client accounts.
PRECIOUS METALS INSURANCE
Precious metals deposits at any of the three (IDS of Delaware, IDS of Texas and IDS of Canada) International Depository Services Group secure facilities are insured through an all-risk policy underwritten by Lloyd’s of London, the world’s leading provider of specialized asset insurance. This coverage is only available at select precious metal depositories. All risk policies provide extensive coverage beyond policies that only cover specific events.
Additionally, IDS maintains two complementary policies which cover acts of terrorism and employee theft.
These three policies provide comprehensive protection to the precious metal assets held in custody at International Depository Services Group.
IDS Group works to ensure that client asset management and security procedures are precisely followed. That is why we have instituted whistleblower provisions in our employee handbook. A whistleblower is an employee who reports an activity that he/she considers to be illegal or dishonest to the company or clients. Examples of illegal or dishonest activities are violations of federal, state, or local laws or billing for goods or services not provided or misappropriation of customer assets.
If an employee has knowledge of or a concern about illegal, dishonest, or fraudulent activity, the employee must contact Human Resources or an officer of the Company. Human Resources is responsible for conducting investigations, except if the allegations involve Human Resources, in which case the officers of the Company will appoint another person to investigate. The details of how to file a whistleblower complaint are outlined in the employee handbook provided to each employee.