WHY SHRED?
Federal, State and Local Laws
Privacy protection is a matter of law. Each of us is required by federal law—and increasingly by state and local mandates—to protect certain types of information. Secure, on-site document destruction allows you to be compliant with these laws. At the federal level, three important laws require specific safeguards to ensure confidentiality.
The Fair and Accurate Credit Transaction Act
Known as FACTA or the FACT Act, was signed into federal law on Dec. of 2003. It contains a number of mandates intended to combat consumer fraud and related crimes, including identity theft. Specifically, it requires the destruction of all paper documents containing identifiable consumer information.
The text: Section 682.3 of the law states: “Any person who maintains or otherwise possesses consumer information, or any compilation of consumer information, for business purposes must properly dispose of such information by taking reasonable measures to protect against unauthorized access to or use of the information in connection with its disposal.”
Shredding of such documents “so that the information cannot be practicably be read or reconstructed” meets the law’s standard.
The Gramm Leach Bliley Act (GLB)
Known as the Financial Modernization Act of 1999, is a federal law that forces a financial institution to “respect the privacy of its customers and to protect the security and confidentiality of those customers’ non-public personal information.” The law provides for stiff penalties for companies found to be in violation of its regulations.
The Health Insurance Portability and Accounting Act (HIPAA)
Enacted by the federal government in 1996, is intended to safeguard the privacy of patient health records. The law provides for stiff penalties for companies found to be in violation of HIPAA regulations.
Identity theft is the fastest growing crime in the United States
Businesses are entrusted with all types of confidential information, and each business needs to do their part to prevent identity theft by safeguarding this information.
Destroy your confidential documents in order to protect your employees, your clients or patients and yourself. Documents containing names, addresses, Social Security numbers, credit card and bank account numbers, etc. should be destroyed when they are no longer needed.
Company Security
Simply throwing your information away without destroying it allows anyone to “dumpster dive” to retrieve all your valuable information.
Customer Account lists- Business Plans
- Plans for New Products
- Financial Statement
- Payroll Data
- Cancelled checks
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