Business Identity
Theft
Crimes such as
business espionage and bank fraud are increasing by the
day, with identity theft becoming very common. To protect
personal and sensitive information pertaining to your home
or business, document shredding is your only recourse.
Stay one step ahead of the criminals!
The Law Says You Must
Shred!
With the
Fair and Accurate Credit Transactions Act or FACTA taking
effect in June 1995, it has become a legal necessity for
companies to employ a person exclusively for document
destruction. Businesses are required to provide
professionals with the necessary equipment for proper
document disposal.
The law was
enacted to make sure that all business-related documents
are discarded in the safest possible manner to eliminate
any chance of identity theft. Not all businesses are aware
of the compliance requirements of the FACTA Law. Fines
under the State law could go up to $1000, while the
penalty under Federal Law could be around $2500, for
violation and non-compliance.
Professional Shredding - The Best
Option
In onsite
shredding, the company sends a special truck to your
business address. The shredding is done in the truck and
you are able to monitor the whole process of the shredding
through a camera.
This gives you the
satisfaction of knowing that every document has been
completely destroyed. The truck arrives as per your
scheduled arrangement with the shredding company, daily,
weekly or on a monthly basis, depending on the volume of
work.
These companies also
provide you with secured storage containers to store the
documents meant for shredding, until the next scheduled
shredding day. After every shredding, the company provides
a shredding certificate called the 'Certificate of
Destruction'.
Keep Your Business Efficient
There are lots
of advantages to employing a document shredding company,
one of the most important is simply limiting payroll hours
devoted to mindless tasks like shredding paper. It is much
better to have employees focused on greater tasks at hand
and let a professional company handle the business's paper
shredding needs.
The best part about
these companies is they provide a convenient bin to place
waste papers, folders, paper clips, staples and rubber
bands included, and take care of the shredding for you on
a pre-defined schedule.
Identity theft
is a serious crime that has challenged legal systems
worldwide. Contrary to popular belief, identity theft can
take place in many ways, besides web-based and electronic
transactions. There have been a number of instances of
identity theft resulting from stolen credit cards,
business documents and checkbooks.
A recent study
confirms that only about 11.6 percent of identity theft
crimes take place via the Internet. A large number of
identity theft crimes have been committed with the help of
stolen documents from offices. If you own a business, it
is important to ensure that adequate measures are in place
to safeguard the sensitive information of your company and
your clients.
Listed below are the top five reasons why you should
make sure that your business is identity theft
proof:
1. For The Security Of Your Business - Without proper
security measures, your company name (and credit) can be used
to purchase merchandise from other companies.
2. To Safeguard Your Reputation - It takes years to build a
good reputation - you cannot afford to ruin it by allowing
someone else to use your name to cheat people.
3. To Safeguard The Privacy Of Employees - The main interest
of an identity thief lies in documents and sources that may
reveal important personal data. These include names, addresses,
Social Security Numbers, phone numbers, insurance information
and banking details. Employee files in your company include all
this information. Access to these files, leads to serious
implications and puts the financial future of your employees at
risk.
4. To Avoid Litigation - If you are forced to sue a
fraudulent company for identity theft, you stand to lose a
great deal of time and money - both of which are usually in
short supply.
5. To Strengthen Rapport With Customers And Build Trust -
Customers are always eager to be associated with a brand or
company that has a good reputation. If you protect the
interests of your customers, you are sure to win their
loyalty.
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