FACTA stands for the Fair and Accurate Credit Transaction Act, which requires the destruction of all consumer information prior to it being discarded. The IRS will begin FACTA audits this year. Failing to comply with this new reporting regulation could put you at risk for increased fines and liability. FACTA's new disposal rule
has been in effect since 2005 and makes companies that handle consumer information to properly dispose of this information so it does not put the consumer at risk for fraud or identity theft. To comply with the FACTA Disposal Rule, businesses and individuals must take "reasonable measures" to ensure such information does not fall into the wrong hands. Reasonable measures include the "burning,
pulverizing, or shredding" of paper documents, such as the contracting of a third-party engaged in the document destruction business to dispose of confidential information in a manner consistent with the Act.
SafeGuard is a company that helps the government help businesses comply with this law. Now that the audits for this law are now in effect, why put your company at risk? Call SafeGuard and let us help you get through this worry free. Our low rates and easy service will help you and others to fight identity theft.
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