All you ever wanted to know about paper shredders, and then some. Avoid Identity Theft start shredding everything today!Thursday, December 01, 2005
Corporate Security
Business Liability
Information Protection -- It's the Law
NEW Effective June 1, 2005: Fair and Accurate Credit Transactions Act (FACTA)
FACTA requires businesses of all sizes to help prevent identity theft by destroying certain consumer information before disposing of it. FACTA also applies to small businesses and even individuals who collect certain personal information from employees or customers. Shredding is recommended as an appropriate means for destroying confidential consumer information.
Examples of consumer information that must be properly destroyed:
Penalties for non-compliance
86.9% of small businesses are not aware of FACTA
Health Insurance Portability and Accountability Act (HIPAA)
Targeting the medical industry, HIPAA protects patient privacy by requiring written permission from patients before allowing the release of their medical history. The 1996 law also gives patients the right to access their medical history and places higher security standards on medical institutions while storing or disposing of confidential patient information. (e.g. of covered medical institutions: doctor offices, clinics, insurance carriers, etc.)
Gramm-Leach Bliley Act (GLB)
The 1999 GLB Act requires financial institutions to protect individual privacy rights. This act requires financial institutions to notify customers of their privacy policy and offer them the option to "opt out" of the policy if it allows businesses to share information with a non-affiliated third party. The safeguard portion of this act requires financial institutions to have a plan in place to protect and safeguard consumer information. (e.g. of covered financial institutions: lenders, mortgage brokers, debt collectors, financial planners)
Be Safe: Shred It™!
Sources:
* Survey by the American Society for Industrial Security and Price Waterhouse Coopers, 1999
** Optimize, October 2003
*** www.ftc.gov, February 2005
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Shredder Supplies
- Business losses due to Corporate Espionage average $47.6 billion annually*
- Corporate Espionage does more damage to a business than any other security intrusion**
- Identity theft crimes cost businesses $52.6 billion in 2004***
Information Protection -- It's the Law
- Privacy legislation requires all types of businesses to properly manage and dispose of consumers' personal information.
NEW Effective June 1, 2005: Fair and Accurate Credit Transactions Act (FACTA)
FACTA requires businesses of all sizes to help prevent identity theft by destroying certain consumer information before disposing of it. FACTA also applies to small businesses and even individuals who collect certain personal information from employees or customers. Shredding is recommended as an appropriate means for destroying confidential consumer information.
Examples of consumer information that must be properly destroyed:
- Social security numbers
- Credit histories
- Employment histories
- Addresses
Penalties for non-compliance
- Federal penalties
- State penalties
- Civil liability
86.9% of small businesses are not aware of FACTA
Health Insurance Portability and Accountability Act (HIPAA)
Targeting the medical industry, HIPAA protects patient privacy by requiring written permission from patients before allowing the release of their medical history. The 1996 law also gives patients the right to access their medical history and places higher security standards on medical institutions while storing or disposing of confidential patient information. (e.g. of covered medical institutions: doctor offices, clinics, insurance carriers, etc.)
Gramm-Leach Bliley Act (GLB)
The 1999 GLB Act requires financial institutions to protect individual privacy rights. This act requires financial institutions to notify customers of their privacy policy and offer them the option to "opt out" of the policy if it allows businesses to share information with a non-affiliated third party. The safeguard portion of this act requires financial institutions to have a plan in place to protect and safeguard consumer information. (e.g. of covered financial institutions: lenders, mortgage brokers, debt collectors, financial planners)
Be Safe: Shred It™!
Sources:
* Survey by the American Society for Industrial Security and Price Waterhouse Coopers, 1999
** Optimize, October 2003
*** www.ftc.gov, February 2005
Shop for Paper Shredders
Shredder Supplies
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