LeMay Mobile Shredding Blog

FACTA
FACTA

Whether you are an employee of a company that has shred-able documents, or you own a business and are in charge of its files, you should be aware of the FACTA shredding rules. These rules are designed to protect your personal data and the environment. They were enacted by the Federal Office of Information Management and Technology (OMIT) to prevent companies from illegally discarding records and documents.

LeMay Mobile Shredding

Using a secure shredding service like LeMay Mobile Shredding service is a good way to get your hands on the holy grail of document destruction, i.e. the data you don’t want to keep, in a format you can reuse again and again.

FACTA or the Fair and Accurate Credit Transaction Act is a federal statute that requires businesses to protect customer information. If you’re not doing your part, you could be facing fines up to $2500 or more at the federal level, and a potential class action lawsuit from customers who suspect their privacy was violated.

In a nutshell, FACTA requires businesses to properly dispose of consumer data, whether it’s paper, hard drives or backup tapes. A secure shredding service is a good place to start, and a small investment can save you FACTA compliant. The LeMay Mobile Shredding service will save you and your company money and stress in the long run.

Stop & Shred

Whether you are a small business or a big corporation, you should be aware of FACTA shredding rules. This law was introduced in 2003 and is designed to protect consumers from identity theft. It prevents unauthorized access to consumer reports and reduces the risk of consumer fraud.

It applies to all individuals, businesses, and lenders, including consumer reporting agencies, insurance companies, credit bureaus, mortgage brokers, debt collectors, and landlords. Those who fail to comply with the law can face fines for each violation at the federal level. The fines can be combined with punitive damages and attorneys’ fees.

FACTA also provides new tools to combat identity theft. For example, consumers can request their credit reports annually. These reports contain more accurate information on consumer finances. In addition, the law limits the credit bureaus’ ability to collect.

If you do not comply with the law, you could face class-action lawsuits and massive fines. In addition, your brand reputation could be destroyed.

Environmental impact of shredding

Whether you are a business or a consumer, the rules governing document shredding are very important. Without proper document destruction, you could be facing legal problems and potentially millions of dollars in fines.

The FACTA Disposal Rule requires businesses to protect consumer data. It recommends that businesses develop a written policy and employee training, and that they provide employees with the necessary means to comply with the policy. It also encourages businesses to exercise due diligence.

FACTA requires that companies have a process for destroying consumer data and consumer report information. This includes shredding consumer report information and destroying electronic media.

When a company fails to comply with these rules, it could face large fines and class-action lawsuits. Businesses can be fined up to $2500 per violation at the federal level and up to $1000 per violation at the state level.

If you are a consumer, you can also face fines for failing to properly dispose of your personal information. For example, the Health Insurance Portability and Accountability Act (HIPPA) requires that healthcare professionals shred patient information. It also requires that covered entities such as health plans, hospitals, and health clearinghouses train employees on their document disposal policies.

If you or your company need shredding services that comply with the FACTA rules call LeMay Mobile Shredding.

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