30 Sep Information Destruction Laws
Information Destruction Laws
New York Secure Information Destruction Services
Identity Theft and Information Fraud is already rampant. In order to address this disturbing issue, the US Federal Governments has enacted over 40 information destruction laws to protect consumers.
Here’s a synopsis of the three most significant pieces of consumer information protection legislation. Therefore be well informed.
The Fair and Accurate Credit Transaction Act (FACTA). This requires that any individual or business that maintains personal consumer information. Also must take reasonable care to protect against unauthorized access to this information. Furthermore they must also destroy personal consumer information before it is discarded. Violation of FACTA, which went into effect in 2005. Consequently this can mean fines and penalties of up to $2,500. even more costly for each consumer record compromised.
Learn more about FACTA
The Health Insurance Portability and Accountability Act (HIPAA). This sets national standards for the protection of personal health information. HIPAA, which went into effect in 1996. Therefore it requires all healthcare providers, including any organization. That transmits personal health information, to maintain the confidentiality of this information. Furthermore to destroy the information before it is discarded.
Learn more about HIPAA
The Gramm-Leach-Bliley Act. This requires that all financial institutions protect the confidential information of their clients. Banks, credit unions, mortgage companies, investment and financial services firms. Along with insurance underwriters are among those affected. Fines for violating GLB can be severe. American United Mortgage Company was consequently fined $50.000 for violating GLB.
Learn more about Gramm-Leach-Bliley
So security breach can happen to any organization. In fact ,most noteworthy a total security breaches nationwide have reached the alarming number of 218 million.
American Shredding Services Comply with all the destruction laws