Identity theft is becoming a multi-trillion dollar business, and one of the ways criminals get personally identifiable information is by digging through the trash and using account numbers to create false identities. Your account numbers are often located on numerous documents you throw away each month, and even if you rip them into tiny pieces, it’s quite easy for criminals to piece information back together in order to get what they want.Continue reading How to Dispose of Important Documents Without a Shredder
Mismanaging important personal or financial documents can lead to no end of problems. Ensuring that all tax information, pay stubs and statements that may contain financial or account information are kept on hand for as long as they are needed, and that they have been properly and securely disposed of as soon as they are not, are matters that should never be left to chance. Proper organization and professional shredding and document destruction services can both play an important role in keeping important data and documents safe and secure.
Monthly Bill Payments and Minor Transactions
A good rule of thumb is to keep all utility bills, and bank statements for at least one month. Short-term storage is ideal for records and documents that are unlikely to be needed or that may be easily reproduced should the situation warrant. Simply throwing away old bills or bank receipts rather than arranging to have them shredded can be a recipe for disaster. Professional residential shredding is essential for ensuring that sensitive information does not fall into the wrong hands.
Pay Stubs and Annual Statements
Documents that provide proof of earnings and income as well as account statements that span more than one billing period and may be used in lieu of multiple monthly documents should be kept for up to 12 months. Pay stubs and other proof of income may be required in order to verify tax information and documents and disposing of them prematurely could lead to unnecessary complications.
Tax Documentation and Major Financial Transactions
Any forms, documents or records that pertain to end of year tax preparation need to be kept for a period of three to seven years. Being the target of an audit can be arduous and unpleasant under even the most ideal circumstances. Situations where important documentation cannot be located or reproduced can make an unpleasant situation that much worse. Any records that were used in order to prepare taxes should be stored securely and kept for up to seven years after the return has been filed.
Safeguarding Personal, Financial and Account Information
There are some documents that should never be destroyed. Mismanaging personal and financial records could increase the risk that a previous year’s tax return, major financial statement or a warranty plan or similar document may be accidentally destroyed. While shredding documents that may no longer be of use is essential for safeguarding personal information, ensuring that hard copies of key documents or essential records are kept in a safe or lock box may be just as important.
Scanning, Duplication and Backups
Digital storage of paper documents can vastly simplify the process of storing and accessing previous records. Transferring hard copies of records to a digital format often means that paper records can be destroyed. Many businesses are implementing these practices so commercial shredding of old records once they have been scanned and saved is an important safety precaution, just as ensuring that all digital records are able to be stored properly in order to reduce the risk of a data breach
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Identity theft is becoming a more common occurrence every single day. It takes place when someone steals your personal information and uses it without your authorization. This includes your social security number, credit card numbers, bank account numbers, personal medical information, and even your name and address.Continue reading How to Prevent Identity Theft
Do you store sensitive data in paper files? If so, we have a question for you: What do you do with those papers when you no longer need them? If you are like most people, you probably just throw them in the trash bin and forget about them, right? Well, here what you don’t know. Those papers can be used to steal your identity or your customers’ personal information. Customer lists, credit card information, payroll records, and any other sensitive document should be shredded. This will help keep your data secure and prevent identity theft.Continue reading How Shredding Companies Prevent Data Security Problems
The rules of professional responsibility governing attorneys typically do not set forth well-defined guidelines pertaining to document retention and document destruction. As a result, there is leeway in regard to how and when a law firm disposes of documents, provided specific obligations under the rules of professional responsibility are otherwise satisfied.
Employers are expected to retain information that may be linked to an ongoing or upcoming litigation. Ignoring this duty could lead to major legal problems down the road that no employer wants to face as it may lead to financial ruin. This is the reason why a business that has received a lawsuit notice, administrative charge, or has been informed of an investigation needs to start the process of a litigation hold. The following will help answer some of the questions you might have about this kind of hold.
Contrary to popular belief, identity theft does not only affect your finances. In fact, it can affect anyone and apart from your bank account, it can target your children and medical information. Secured Document Shredding, LLC will address the different ways a person can steal your identity and how you can protect yourself and your loved ones.
The Internal Revenue Service (IRS) in conjunction with the State Tax Authority has waged a fight against identity theft through tax systems. During their previous summit, reports of notable progress on the initiative were tabled, while new procedures were laid out for the next phase.
Identity theft is a massive problem that has affected seemingly countless individuals all over the United States and planet. It can lead to all sorts of headaches and inconveniences, too. Few things can be more frustrating than dealing with the effects of stolen credit cards. Identity theft can even do a number on your credit score. If you want to safeguard yourself from all of the negative effects identity theft can introduce to your life, then a few preventative measures can go a long way, to put it mildly.
Identify theft is a serious problem that has victimized more than 13 million people in the United States. One of the most effective ways to stop this type of felony crime is to shred important documents containing personal information.
Once a thief compromises your identity, it can take months and even years to restore things back to normal. Identity thieves may be able to purchase items or acquire loans in your name. While it may seem a rather simple procedure to prove your identity, this is not always the case.