To Protect Against Identity Theft
According to the Federal Trade Commission, as many as nine million Americans have their identities stolen each year. Current FBI estimates find identity theft is costing American businesses and consumers $50 billion annually. When you consider the cost of professional shredding against the cost of not shredding, the math will always lead back to third-party shredding.
To Obey Laws Mandating Shredding
In addition to the cost of rebuilding credit and reputation related to identity theft, there is also the pressing consideration of legal exposure to your company. More than 40 federal laws mandate that all businesses, healthcare facilities and financial institutions protect the confidential information of their clientele. All of these laws to some degree require secure document destruction that only high-grade, third party shredders such as Balcones Shred can offer. We implore you to learn more about the legal compliance of shredding.
To Preserve Customer, Client and Patient Privacy
Whether you are a two-person shop or a company known worldwide, you have confidential customer information within your possession. Today’s customer or patient comes to you for your expertise and has an unspoken expectation that you are protecting their privacy behind the scenes. Failure to do so can expose you to bad publicity, poor word of mouth and potentially lost business. Balcones Shred knows the ins and outs of all current privacy legislation including but not limited to FACTA, HIPAA, Hi-tech HIPAA, GLB, Red Flag Rules, SOX and Texas Bill 698.
To Shield Sensitive Company Information
Beyond identity theft, there is also the threat of corporate competitors interested in the details of your confidential business papers. They are potentially looking to seize any opportunity that may be readily available in a trash or recycling dumpster. This is why Balcones Shred conducts security audits to help you identify how confidential information may be slipping through the cracks of your operation. Based on audit results, we can help you write procedures and plans that will tighten your security and protect your business. When it comes to what to shred and what to retain, there are a number of strategic and administrative internal documents to note.