For many organizations, collecting and storing sensitive information is vital to everyday operations. Therefore, protecting personal information on clients or employees is the responsibility of the company. It is not just good business practice, it is the law. Companies must keep up with the current law as security regulations are constantly being updated or added as the digital landscape changes. Also, each industry has their own compliance regulations, and it is important to know which regulations effect your business. Understanding and complying with local and federal regulations regarding storing and destroying sensitive information is crucial to avoid headaches such as expensive data breaches, fines, or lawsuits. Information privacy protections apply to businesses of all sizes for both digital and print records.
Here is some information on laws regarding handling and disposal of confidential information:
Health Insurance Portability and Accountability Act (HIPAA)
Rules and regulations to protect patient health information that applies to any organization that handles personal medical records, social security numbers, prescriptions, and more. Read More About HIPAA
Fair and Accurate Credit Transactions Act (FACTA)
Rules and regulations to protect and improve consumer financial information which applies to creditors and credit reporting agencies. Read More About FACTA
Sarbanes-Oxley Act (SOX)
Financial requirements for all U.S. public company boards, management and public accounting firms addressing accounting errors, fraudulent practices, and corporate disclosure accuracy. Read More About SOX
Gramm-Leach-Bliley Act of 1999 (GLB)
Allowed commercial banks, investment banks, securities firms, and insurance companies to combine their financial services while requiring safeguards for sensitive data. Read More About GLB
New Jersey Identity Theft Protection Act (ITPA)
The Act includes a number of safeguards for preventing identity theft and to mitigate damages in case the theft occurs. The Act also enacts security freeze and security breach notification laws. Learn More About ITPA
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