In the United States, many businesses and organizations are subject to different state and federal laws governing the management of business, and consumer-friendly practices. One such piece of legislation at the federal level is known as
FACTA, and it affects almost every business in the United States.
The Fair and Accurate Transactions Act (FACTA) was signed into law in late 2003 with the ultimate goal of preventing consumer fraud, and penalizing institutions which fail to take appropriate measures to prevent consumer fraud. Since 2005, almost all businesses across the USA have been subject to the regulations and guidelines held within FACTA.
FACTA requires businesses to take reasonable measures to protect against consumer fraud that could be propagated by unauthorized access to consumer information. In other words, businesses are expected to take reasonable measures to protect any and all consumer information they may have. Such types of information include;
- Drivers licenses
- Phone number
- Email address
- Physical address
- Social security numbers
The act also included a regulation which requires the three major credit reporting agencies to provide credit reports to consumers free of charge. This was made in an effort to make it easier for consumers to identify a potential breach of their identity.
One of the most effective ways to both comply with FACTA regulations, and protect from consumer fraud is through the use of a secure shredding service. FACTA says that the reasonable measures expected to be taken by businesses can include Shred-A-Way’s state of the art shredding equipment which is capable of destroying documents to an irreversible state; meaning information is destroyed permanently.
Shred-A-Way offers services on and off-site, on a per-call or scheduled basis. We can leave secured lock boxes on site to secure your documents as soon as they are deemed shred-able. Then we can arrive at your workplace and destroy your documents right on site! No matter the shredding needs of your business or organization, we can help you remain compliant, and protect the information of your clients. We also offer media destruction and HDD destruction services for the ultimate peace of mind.
Victims of identity theft caused by non-compliant information management, are considered to be entitled to damages sustained. This can be extremely costly for businesses if something happens, which is why it is vital to make sure that compliance is met from the start!
If you’re concerned that your existing document handling and management protocols are not enough to properly protect your business, talk to our expert team today to find out which of our services will work best for you. Our service area is always growing, and our trucks are always on the road!
Talk to us today to learn more!