One does not simply shred documents without paying mind as to what they are shredding and why. Often times, people shred documents to ensure that their information, and the information of those that they are responsible for, is kept private, secure, and in the right hands. For every individual to decide their own standards for shredding would be time-consuming and unnecessary, which is why the FACTA exists. It is part of the basis for the practice of compliant shredding, which is shredding that complies with federal and state rules and regulations. Making sure that the shredders you use are familiar with compliant shredding is imperative in guaranteeing the security of your information.
What is the FACTA?
FACTA stands for Fair and Accurate Credit Transaction Act. It is a federal law that was enacted in 2003 by the United States Congress and if you’ve heard of it, it’s probably because it’s the law that entitles every American citizen to request and obtain a free credit report at least once every 12 months. The act also aims to protect against identity theft, increase the accuracy of consumer records, and make improvements in the use of credit information. FACTA provides a standard of protection that is aimed to inform consumers of if the security service they are using is completely up to code and familiar with the regulations of compliant shredding.
Is FACTA the only basis for compliant shredding?
Not by a long shot. Different sets of standards exist for different types of institutions, which we can explore in depth in future posts. There is the Health Insurance Portability and Accountability Act of 1996 (or HIPPA) for medical facilities, the Gramm-Leach-Billey Act (or GLB) for banking services, and more, all fitted to their individual institutional purpose. These laws, veritable tomes of standards, will be followed by any reputable shredding service. Shred With Us complies with all of these regulations and more, guaranteeing you maximum security.
Businesses and individuals that fail to meet compliant shredding standards will end up paying for it in the long run. Not only are you putting your personal information at greater risk, but if you’re responsible for the information of others, failure to comply with these guidelines could result in hefty fines later. Use Shred With Us to ensure that your documents are safe, secure, and up to code!