hmm. they aren't stored, per se. they may be backed up wirelessly. when you wipe a handheld, one of the things you'll lose w/o a backup is the phone logs. some people want these on their handheld. i'm not sure if they're backed up or not, to be honest though.
with 4.1, they have introduced auditing/synchronization of the phone call logs database on the handheld to the BES server. every call, missed, made or received, is stored in a comma-separated value file on the server. this is turned on by default through policy.
depending on your definition of 'security risk', it might be or it might not be. one job of the company is to protect their investments, and this possibly might include playing 'big brother' to their users. other reasons for this would be to comply with various laws, such as Sarbanes-Oxley. unfortunately, in the world of SEC violations, corporate scandals, etc., auditing/tracking of various corporate resources was mandated by the government.
with that said, if you are simply looking at folders on your handheld, they are not stored on the BES, most likely (some things are, though).
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