When preventing identity theft and business fraud your business, you can never be too careful. A single file can be packed with sensitive information, such as:
- Financial data
- Personal data
- Sensitive corporate information
If a confidential document lands in the wrong hands, your company may fall victim to identity theft or business fraud. Here we provide three solutions for reducing these risks in your organization:
1. Practice strong data security habits
Cyber attacks have now become the most common method for criminals to gain access to confidential personal and business information. Hackers regularly take advantage of negligent employee behaviors to breach corporate networks. To help prevent this, take the following steps:
- Require employees to use unique passwords that combine uppercase and lowercase characters, symbols and numbers for each business application they use
- Encourage employees to update their passwords frequently, or set up forced password updates in each application
- Implement automatic software updates on all applications and digital devices
- Train employees to never open email attachments before verifying they have come from a trustworthy source
2. Store valuable records offsite
Based on legal retention requirements, you have an obligation to keep certain paper records for a specified period of time. But it’s dangerous to assume your office is the safest place to store them. Cleaning staff, maintenance personnel, or dishonest employees also pose a risk to your sensitive information. So documents should be kept in a secure, separate location that is accessible only by authorized individuals in your organization.
A records storage service provider stores your documents in an offsite facility designed specifically for the protection of business documents. A professional records centre is equipped with the following systems:
- Perimeter security
- 24/7/365 surveillance
- Alarm system
- Building and storage area access controls
Only designated individuals in your company can request records stored offsite in a records centre. And barcode technology is used to track all activity for each record so you have a thorough audit trail in case you ever need it. All records management is handled by screened professionals who follow strict chain of custody and other security procedures when transporting your files to and from the records centre.
3. Implement a document destruction program
Keeping sensitive paper records longer than necessary also increases the risk of identity theft and business fraud. Although expired documents may no longer be useful to your organization, they can still be exploited by criminals who wish to access confidential personal and business information. The Personal Information Protection and Electronic Documents Act (PIPEDA) was enacted in the year 2000, and it requires that all Canadian organizations collecting personal information must destroy it at the end of its legal retention period.
A managed document destruction program prevents the theft of expired paper records and ensures your business is in compliance with PIPEDA. The right vendor can offer onsite or offsite shredding options to meet your preferences and requirements. Both options use locked shred collection containers where you can dispose of obsolete files in seconds. On a scheduled basis, your containers are collected and the contents are securely shredded. You receive a Certificate of Destruction noting the date and time of destruction to prove your compliance with PIPEDA.
Identity theft and business fraud are risks all businesses must face. But by implementing strong records storage, document destruction and data security solutions, your business will stay protected.
Docu-Dépôt offers records and information management service for businesses in Montréal and throughout Québec. For more information, please contact us by phone or complete the form on this page.
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