Three Reasons Why You Should Buy A Paper Shredder
Paper shredders have become commonplace these days due to the increased risk of identity theft
. If you haven't purchased a shredder for your office yet, you really should. Here are three reasons why you absolutely must buy a paper shredder.
1.) To obey the law.
No sane person wants to be in trouble with the law. Legal problems can lead to financial ruin, bad publicity, the need to hire lawyers (oh, the horror!), and even the possibility of going to the pokey. But how can a paper shredder help you avoid run-ins with lawyers and law enforcement? It is simple: paper shredders can destroy documents containing private information such as Social Security Numbers, credit information, addresses, and employment history, enabling you to comply with federal privacy laws. There are a few federal privacy laws (as well as numerous state ones), but the two most prominent ones are the Fair and Accurate Credit Transactions Act (FACTA) and the Health Insurance Portability and Accountability Act (HIPPA).
FACTA affects just about every company in the country because it requires people to properly dispose of the information contained in credit reports and employment histories. So whether you're a big corporation with 1,000 employees or a parent who hires a nanny to look after your baby, you need to comply with FACTA by shredding your employees' information. Not doing so can lead to a $2,500.00 fine, as well as lost customers and possible civil lawsuits.
HIPPA applies to the healthcare industry and it's similar to FACTA, except the information that needs to be destroyed is health-related such as medical histories, treatment plans, health insurance information, and so on. (In fact, you've probably heard of HIPPA before because anytime you see a new doctor or get a prescription filled, you receive a sheet about the law and how it can protect you.) Not complying with HIPPA regulations is not only unethical and unfair to your clients and patients, it can be a costly. Non-compliance can cost you a $500,000.00 fine, plus a possible 10-year jail sentence. Yikes!
2.) To control who sees your data.
Some companies outsource their document destruction to a shredding service, thinking it will save them time and money. Sure, it can save you some time, but there are more risks than benefits to using a shredding service. As outlined above, it's important to comply with privacy laws and outsourcing your shredding can make that difficult, if not impossible. Once your information leaves the building, it will sit in an unlocked bin, possibility sit on a truck for who knows how long, and be handled by numerous people, some of who could possibly be identity thieves. And just because you outsource your shredding doesn't let you off the HIPPA and FACTA hook. You're still responsible for what happens to your sensitive information, so even if Mr. Shredding Service steals your customer's Social Security Number, you're still legally responsible. Having a shredder on-site can eliminate that risk so you'll never have to wonder what happened to your documents after they left the building and if your decision to outsource will come back to haunt you.
3.) To save money...and your sanity.
Everyone is looking to save a buck or two these days, especially considering the recent recession. Your company is probably no different and that's why you're reluctant to buy a shredder for your office. But the reality is shredders can help you save money. If you're having your documents destroyed off-site, you can expect to spend over $5,000.00 over a five-year period for the service and you won't really know if the documents were properly destroyed. Meanwhile, a paper shredder can be yours for a fraction of that price. By buying a paper shredder you will not only save money every time you shred, you won't have to worry about possible legal troubles so you can sleep easy at night.
A paper shredder is a must-have item for every office in America. After reading this article, hopefully you see what that is and why you should buy a shredder for your workplace. If the identity thieves don't get you, there's a chance the law will if you're not careful. Get a paper shredder for your office today.
by: Jeffrey McRitchie
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