News & Information
Identity theft is the fastest growing crime in the United States.
Last year 9.3 million people had their identities stolen. The FTC
estimates that one in three people will be the victim of identity
theft in next five years. 72% of the information is stolen offline
by accessing paper documents!
Recycling
Did you know that each ton of recycled paper saves:
17 Trees
7,000 Gallons of Water
60 Pounds of Air Pollution
4,102 Kwts. Of Electricity
3 Cubic Yards of Landfill Space
Recent Legislation
FACTA Disposal Rule Defined
Developed by the Federal Trade Commission, FACTA stands for
Fair and Accurate Credit Transactions Act. Designed to minimize
the risk of identity theft and consumer fraud, the Disposal Rule
section of FACTA became law on June 1, 2005. The Disposal
Rule states that any person who maintains or otherwise possesses
consumer or employee information for a business purpose is required
to properly dispose of the information. This includes information
used, or expected to be used, to establish eligibility for credit,
insurance, or employment. In addition, all information contained
in or derived from consumer reports and records must be properly
disposed to protect against unauthorized access to or use of the
information. This part of FACTA was developed to cut down on the
incidences of identity theft by, among other methods, restricting
the ability of thieves to "dumpster dive" for valuable
consumer information contained in discarded business records. The
Disposal Rule goes on to say that all employers must take "reasonable
measures" to protect against unauthorized access to or use
of the information in connection with its disposal.
The Basic FACTA
The FTC's latest FACTA rule requires any business "that maintains
or otherwise possesses consumer information, or any compilation
of consumer information, derived from consumer reports for a business
purpose" to "properly dispose of such information or compilation."
Both FACTA and the new rule are supposed to cut down on the incidences
of identity theft by, among other methods, restricting the ability
of thieves to go "dumpster diving" for valuable consumer
information contained in discarded business records.
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