FACTA

NOT PROPERLY PROTECTING YOUR CLIENTS, COULD DESTROY YOUR BUSINESS

Did you know?

The Fair and Accurate Credit Transaction Act (FACTA) is a federal law designed to reduce the risk of consumer fraud and identity theft. The FACTA disposal rule, effective June 1, 2005, is expansive in scope, covering 19 issues. One provision in particular, however, is devoted solely to the proper disposal of consumer information. According to the FACTA disposal rule, "any person who maintains or otherwise possesses consumer information" must take "reasonable measure" to prevent unauthorized access to or use of the information in connection with its disposal. Failure to comply with FACTA may result in legal enforcement measures by federal and/or state authorities.

While you may think that your business is protected, laws change and technology to allow thieves access to confidential documents puts your business at greater risk every year. Your company's most vital asset is information - trade secrets, client information, price lists, patient records, bank account numbers etc., must be kept private. As a records manager, you have been entrusted to keep your organizations information confidential and you must follow proper destruction guidelines to truly protect your company and your clients. Proprietary and private data discarded without the benefits of shredding exposes companies to criminal and civil prosecution, as well as the loss of business.