The Supreme Court has ruled that information in your trash is “fair game” to anyone. Privacy laws make you vulnerable to law suits when personal records are disclosed to outsiders – even by accident!
The 1974 Federal Privacy Act was established to insure that government agencies protect the privacy of individuals and businesses with regard to information held by them and to hold these agencies liable if any information is released without authorization.
Theft, Vandalism and Industrial Espionage are becoming ever increasing security problems. Today’s information explosion can be devastating to your business. With the increased use of office copiers and computers, staggering amounts of sensitive information are being generated and carelessly discarded.
Dun’s Review estimates that corporate espionage costs US businesses over $7 billion in losses yearly. It’s believed that one in four American adults have been defrauded in various identity theft schemes.
The Federal Trade Commission reported last year that over 9 million Americans fell victim to identify theft while losses to businesses and financial institutions totaled $48 billion and consumers lost 4 billion in out-of-pocket expenses.
Your trash, your credit card, phone card, even your junk mail may be the source of a financial and personal catastrophe. Identity theft is an unimaginable nightmare for most people, and a nefarious windfall for the growing ranks of Identity thefts and corporate scavengers currently farming America’s trash.
See what the law says regarding compliance:
What Should Be Shredded