Examining HIPAA, SOX, and FACTA Recycling and Shredding Guidelines
Document shredding is a major concern for certain businesses, especially for businesses in the healthcare, finance, and legal sectors. If your business deals with documents that pertain to consumer information, personal healthcare information, or other sensitive information, then you need on-site document shredding solutions. Be sure to pick a facility that is in compliance with all relevant regulations, including HIPAA, SOX, and FACTA.
Sarbanes-Oxley Act (SOX)
The SOX Act is a federal law that was enacted in 2002. It established new standards and enhanced old standards for all public company boards, public accounting firms, and management firms. One major aspect of the SOX Act is the requirement that public companies integrate detailed information systems into their operations, such as the secure disposal of business records that are no longer needed. For example, the SOX Act requires that companies store for at least five years all electronic information pertaining to an audit. Hard drives and tapes may be shredded and then recycled.
Fair Accurate Credit Transaction Act (FACTA)
The Federal Trade Commission (FTC) passed FACTA in 2003 and it came into effect in 2005. It was created to put an end to the improper disposal of consumer information. Every company that maintains, possesses, or otherwise handles consumer information needs to be in compliance of FACTA. The act is fairly flexible, requiring only that these companies take reasonable steps to prevent unauthorized access by destroying consumer information in some manner, such as by burning, shredding, or pulverizing.
Health Insurance Portability Accountability Act (HIPAA)
HIPAA was a major achievement in furthering patient safety and increasing accountability in the healthcare field . Among other provisions, this legislation requires that covered entities dispose of personal health information in any reasonable way that prevents unauthorized access. In other words, disposing of paperwork in a dumpster is not acceptable, but shredding it is.
For business and personal needs, Pouch Records Management and POUCH Self Storage offers safe and reliable on-site shredding at all of our locations. In addition to on-site document shredding and records management, our storage facilities offer a variety of self-storage options in Orange County, including vehicle storage. You can request more information by calling (800) 378-4598.
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