Why Shred?

If confidential information falls into the wrong hands, the result can cost you big—from public relations embarrassments to lawsuits, fines, and huge losses of revenue. But document security isn't just good business—it's the law. Recent Federal and State legislation holds businesses to higher standards of confidentiality.

Failure to comply means fines and litigation:

• GLB, the Gramm-Leach-Bliley Act, requires companies engaged in financial activities to provide secure handling of client records and information—especially banks, mortgage and finance companies, brokers and underwriters, securities and investment firms, and non-bank financial service firms.
  
  
• HIPAA, the Health Insurance Portability & Accountability Act, protects security and privacy of private health information at human resources benefits administration and medical offices, not to mention service providers at hospitals, pharmacies, clinics, and labs.
  
  The Privacy Rule provisions apply to all entities involved in the healthcare industry, and cover how they must handle personal information. Compliance requires that a multitude of procedures be incorporated, some of which would sensibly involve shredding of virtually all documents received by or generated in a health provider's office.
  
  
• Identity theft is the fastest growing non-violent crime. It was not even a designated crime a few years ago, but technology has made information so available that identity theft now ranks as the number-one fraud complaint by U.S. consumers, according to the Federal Trade Commission. Moreover, business identity theft is also rampant. The Better Business Bureau recommends rigorous control of all company information, including the shredding of documents.
  
  
• Theft of Corporate Information Cost Billions. U.S. companies are losing an estimated $100 billion a year to information thieves, according to a survey by the American Society of Industrial Security and Price Waterhouse Coopers. Of the companies surveyed, more than half reported at least one instance of theft. The greatest threats come from trusted insiders—current and former employees, contractors, consultants, and suppliers.
  
  
• Trash as treasure. Going through your trash isn't illegal. The Supreme Court ruled in 1988 that once thrash is left for pickup, it's public domain—with no expectation of privacy or ownership.