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Laws That Impact Document Shredding for Businesses

When it comes to destroying documents, there are several laws that businesses must follow to ensure they are compliant. The laws and regulations governing document destruction can vary from state to state, but there are some general guidelines that all businesses should follow. Here is a brief overview of some laws that govern and impact document destruction.

The Fair and Accurate Credit Transaction Act (FACTA – 2003):

FACTA was enacted to prevent and mitigate identity theft. This law requires businesses to take “reasonable measures” to protect consumer information from unauthorized access and disposal. One of the requirements of this law is that companies must have a policy in place for the secure destruction of consumer information.

Gramm-Leach-Bliley Act – Financial Services Modernization Act (GLB – 1999):

This Act requires financial institutions to develop a written information security program to protect the confidentiality of customer information.

  • Financial institutions must notify customers of their privacy policies and practices when they establish a customer relationship and then on an annual basis.
  • Customers must be allowed to opt-out of having their nonpublic personal information shared with nonaffiliated third parties.

Health Insurance Portability & Accountability Act (HIPAA – 1996):

HIPAA is a federal law that protects the privacy of patient health information. This law applies to all businesses and organizations that handle protected health information (PHI). HIPAA requires firms to safeguard PHI from unauthorized access, use, or disclosure. Companies must also have a process in place for the secure destruction of PHI when it is no longer needed.

The Federal Privacy Act of 1974:

The Federal Privacy Act of 1974 is one of the most critical laws regarding document destruction. This law establishes that government agencies must protect the privacy of individuals and businesses concerning information held by them. The Federal Privacy Act of 1974 also holds these agencies liable for any information released without proper authorization.

Sarbanes Oxley Act (SOX – 2002):

SOX was enacted after the Enron and Worldcom financial scandals to increase corporate responsibility and financial reporting to combat fraud. This act applies to public companies based in the United States or traded on US stock exchanges. SOX requires companies to have a written record of information management policy and procedures, including the process and procedures for proper document destruction. If convicted of violating SOX, businesses face fines and imprisonment of up to 20 years.

As you can see, there are several laws businesses must follow regarding document destruction. These laws are in place to protect the privacy of individuals and companies and prevent fraud. It is essential for businesses to be aware of these laws and to make sure they are taking the proper measures to comply with them. If you have any questions about document destruction or compliance, don’t hesitate to contact a professional like TITAN Mobile Shredding, who can help ensure you take the necessary steps.

TITAN Mobile Shredding: Let Us Help You Comply with All Laws and Regulations:

At TITAN Mobile Shredding, we are experts in document destruction. We can help you comply with document destruction laws and regulations. We offer on-site and off-site shredding services, one-time purge shredding, and ongoing scheduled services. We also provide a secure chain of custody for all your documents, so you can be sure they are properly destroyed. Contact us today to learn more about our services or to schedule a free consultation.

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