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Reducing the risk of consumer fraud, identity theft FACTA 2003
Reducing the risk of consumer fraud, identity theft with compliant document management and records storage solutions. Fair and Accurate Credit Transaction Act (FACTA) of 2003.
By: Retrievex information management
What is FACTA?
FACTA (or FACT Act) is the Fair and Accurate Credit Transaction Act, a federal law enacted and designed to reduce the risk of consumer fraud and identity theft created by improper disposal of consumer information.
What you should know about the FACTA Disposal Rule:
It applies to virtually every person and business in the United States.
It requires the destruction of all consumer information before it is discarded.
Potentially severe penalties await violators. http://www.retrievex.com/
FACTA applies to virtually every person in the United States.
The Federal Trade Commission (FTC) has issued their FACTA Disposal Rule and while the FTC has singled out Lenders, Insurers, Employers, Landlords, Government Agencies, Mortgage Brokers and Auto Dealers, the FACTA Disposal Rule in fact applies to every individual and business who is subject to their jurisdiction, which includes virtually every person and business in the United States.
FACTA requires the destruction of consumer information before it is discarded.
According to the FTC’s FACTA Disposal Rule “any person who maintains or otherwise possesses consumer information for a business purpose must properly destroy discarded consumer information by taking reasonable measures to protect against unauthorized access to or use of the information in connection with the disposal.”
Reasonable Measures are defined in FACTA as “burning, pulverizing, or shredding of papers containing consumer information”
Secured certified document destruction to discard all consumer information is the best way to comply with FACTA. Document destruction and records management services http://www.Retrievex.com can be arranged on a schedule that suits any office. It is the most economical alternative no matter how large or small the need.
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Retrievex offers records management and document storage solutions in Las Vegas (NV), Washington (DC), Northern Virginia (VA), Philadelphia (PA), New York (NY), New Jersey (NY), Chicago (IL), Cincinnati (OH), Boston (MA), Hartford (CT), Omaha (NE), Orlando (FL), Tampa (FL), and Evansville (IN).