Shredding of secure documents is a vital part of the security of every company, especially those dealing with large amounts of sensitive financial data. It is a legal requirement that all financial records are destroyed sufficiently once no longer needed, meaning that this is a priority for all banks, insurance providers, building societies, investment firms and other financial organisations.
Protecting clients’ data
All client data is required to be stored and used in accordance with all UK privacy legislation. Every organisation has a duty of care to the clients that they hold information for, particularly sensitive documents of a financial nature. This can include bank statements, card information and transaction details for individuals which needs to be handled carefully to ensure that it is not available for unauthorised access.
Compliance is vital
Shredding secure documents doesn’t just protect customers, but organisations too. By complying with legislation, companies within the financial sector are avoiding legal and financial implications should a data breach occur and confidential information allowed into the wrong hands. A lack of security can lead to significant repercussions such as fines and compensation, as well as destroyed customer trust and reputation damage for a long period of time.
Financial data is highly sensitive
Financial data is particularly sensitive and requires the strictest management to prevent expensive breaches. Companies should take their utmost care to create a policy which caters for the strict data protection regulations. This needn't be time consuming or difficult – in fact, one easy way to ensure that you’re destroying secure documents sufficiently after use is by putting in place a simple Document Shredding policy.
Secure shredding as a solution
Financial organisations process a large volume of confidential data, meaning that there is a lot to dispose of. Using Shred-on-Site’s regular collection service, you can rest assured that your documents are being disposed of in a timely and convenient way. This is a guaranteed service, providing companies with a Certificate of Destruction after the shredding process is complete.
In the meantime…
In between collections, businesses within the financial sector may find large amounts of secure documentation accumulating. Storage of these documents is just as essential as their destruction, which is why Shred-on-Site offers a variety of receptacles, including locked veneered capsules, to keep these secure before the shredding can take place.
To find out more or discuss your shredding requirements, get in touch with Shred-on-Site today by calling 0800 181 4106.
Author: Mark Coombes - Follow me on Google+