WHY SHRED

 

An increasing number of companies and organizations are developing strict record management policies to manage their documents. Some are being required by litigation and laws while others have simply become more aware of the dangers associated with identity theft. The National Crime Prevention Council has hailed identity theft as “the fastest growing crime in the United States.” Stolen identities can cost a person or organization considerable time and money. Vermont Shred seeks to help you protect yourself, the companies you do business with and your clientele.

• Identity theft is the fastest-growing crime in the USA.
  Source: National Crime Prevention Council
• Six percent of the American adult population is affected by identity theft and nine million have had their identities stolen. Source: Better Business Bureau
• Contractors, who were hired by a large consumer products firm, have been caught in the middle of “dumpster diving” campaigns at rivals’ headquarters. One professional commented on hitting more than 2,500 dumpsters in the pursuit of corporate information on behalf of their clients. Source: Chicago Tribune
• Health Insurance Portability and Accountability Act (HIPAA) commands the medical community to protect medical records of patients. The United States Department of Human Services suggests shredding documents as a way of disposing of critical patient information. Fines of up to $250,000 and/or 10 years imprisonment can be imposed for violations of HIPAA laws.
  Source: UTMB Office of Institutional Compliance
• The Economic Espionage Act of 1996 designates the theft of a trade secret as a federal crime, punishable by extensive fines and/or imprisonment.
• The Privacy Act of 1974 instructs companies to “take reasonable precautions to prevent misuse” of personal information collected by companies.
• The Georgia Identity Theft Law (SB 475) specifically mandates companies to “shred, erase, or modify” all personal information before disposal. The Gramm-Leach-Bailey Act requires financial institutions to safely dispose of personal information as well as to protect that information while in use.
• The Economic Espionage Act of 1996 designates the theft of a trade secret as a federal crime, punishable by extensive fines and/or imprisonment.
• The Privacy Act of 1974 instructs companies to “take reasonable precautions to prevent misuse” of personal information collected by companies.