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FACTA
FACTA is a federal law designed to minimize the risk of
identity theft and consumer fraud by enforcing the proper destruction of
consumer information. The Federal Trade Commission of the United States (FTC)
developed the Act in November 2004 to further implement the policies set forth
in FACTA. The FACTA Act applies to businesses that utilize consumer information;
however, it affects every person and business in the United States.
The FACTA Act, effective June 1, 2005, states that disposal is required for:
 | "Any person who maintains or otherwise possesses consumer information
for a business purpose." |
| "Taking reasonable measures to protect against unauthorized access to
or use of the information in connection with its disposal." |
These "reasonable measures" include:
| Burning, pulverizing, or shredding of physical documents |
| Erasure or destruction of all electronic media
| Entering into a contract with a third party engaged in the business of
information destruction |
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Who is affected by FACTA?
Virtually every company operating in the United States
is required, as of June 2005, to securely destroy all documents and material
that contain sensitive consumer information. Specifically, this applies to:
| Businesses that use consumer information in their everyday operations,
such as banks, lenders, insurers, auto dealers, realtors, employers
| Service providers that store consumer reports and information, such as
record management and information management companies
| Service providers that destroy information, such as shredders, recyclers,
waste management or technology disposal companies |
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FACTA Compliance
Northeast Mobile Shredding offers solutions that will
help ensure your compliance with the FACTA Act.
| Document and Material Destruction - Northeast Mobile
Shredding destroys all types of media: paper, plastic, hard drives and
computers. The FACTA Disposal Rule also covers consumer information that is
stored on computers, hard-drives, CDs, and other media.
| Certificate of Destruction - Certificates of destruction
are provided on every invoice. This also helps with HIPPA compliance for the
medical industry. |
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