FACTAAs of June 1, 2005, any person who maintains records is required to dispose of consumer information. According to the Fair and Accurate Credit Transaction Act (FACTA), "reasonable" measures such as burning, pulverizing, or shredding should be taken to destroy sensitive documents. At the federal levelHIPAA (Healthcare) and the Gramm-Leach-Bliley Act of 1999 (Financial) require specific physical safeguards, such as shredding, to meet FACTA compliance.
Information on FACTA
Moreover, identity theft and privacy violations are growing concerns with customers and employees. Shredding is a simple and cost effective means to ensure the protection of trade information and personal documentation.
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