Many Massachusetts companies underestimate the risk and the consequences of business identity theft and noncompliance with HIPAA, SOX, and FACTA. Over 47 % of small businesses felt that a data breach would not impact their business; however, a study by the Ponemon Institute demonstrates that a data breach could cost organizations an average of $7.2 million! This does not include indirect costs such as lost customers or damaged reputations, nor does it include the increased cost that could occur if an identity thief was able to assume the business identity.
As new security threats continue to emerge, businesses, just like consumers are vulnerable to fraud in new and often surprising ways, Establishing a clear and far-reaching security protocol, including secure document shredding, can help safeguard information in the office, but businesses also need to be concerned about identity theft through their computer networks. Our Media Destruction service can be the solution to keeping your hard drive data away from the wrong hands.
In Order to reduce the risk of identity theft, businesses need to be aware that fraud can happen in the most unexpected places:
Your office – While you might think that paper documents are safe in the recycling bin or trash, it is crucial that you shred all sensitive documents. To be fully protected, consider instituting a shred-all policy to ensure unneeded files are regularly and safely shredded.
On The Road – The business traveler may put the company at risk of fraud, as sensitive documents may be left in garbage cans, hotel rooms, or conference areas. Employees should be instructed to store all sensitive documents in a safe place until they can be securely shredded upon their return.
On The Network – Many businesses are opting to store their data on the cloud. While this might allow companies to save on technology costs, it could put them at a heightened risk of online fraud. Online Cloud computing companies have data warehouses that may exist in countries that have lax security requirements. So here is our summary: Regardless of the size, location, or specialty of your business, you must take proactive measures to protect your identity/documents from fraud., our secure document shredding will help you safeguard your business and protect your client’s information. We offer our clients two shredding plans: Drop Off Shredding & Off Site Shredding both offers the same level of security and peace of mind.