Shredding confidential documents is vital to safeguarding your businesses private information from others. With identity theft on the rise, new laws in the United States stress the importance of document security, to maintain the privacy of individuals and protect them from financial loss. The FACTA Disposal rule, passed in 2006, mandates that businesses destroy all paper records that contain this sensitive information. Other federal regulations that protect privacy inculde: HIPAA, Sarbanes-Oxley and Gramm-Leach-Bliley.
Such documents typically include:
Document security refers to the process and procedures involved in effective storage and back up, processing, delivery and shredding of important documents. Most companies outsource their company's shredding to certified professionals who have a commitment to destroying unwanted documents. This allows them to prove compliance with state and federal laws. The goals of these laws is to encourage you to destroy all your monthly bills, receipts and credit card statements regularly, to ensure that personal data does not fall into the wrong hands.
Some of the most common documents Identity thieves are on the lookout for include: Bank statements, ATM receipts, Credit card bills, Pre-approved credit card applications and other mail that can provide them with vital information. They in turn, use the information to create new fraudulent accounts. The records they look for usually include personal details like names, addresses, Social Security Numbers, driver's license details and so on. All of this information is sensitive and should be shredded without question.
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