Reasons To Be Vigilant With Paper Shredding
It takes entrepreneurs a lot of hard work, money and effort to grow a business, so it is essential they do not throw all this away by being careless with their data security after they have got their feet off the ground.
One of the best ways to make sure your business stays protected is to adopt a strict confidential destruction policy, shredding any valuable data that could pose a threat to the company’s security if it ended up in the wrong hands.
Here are just a few reasons why you should prioritise paper shredding when you’re launching your enterprise.
- Protect customers
When customers give you their personal information, they immediately trust that you will look after this data appropriately.
Therefore, it is essential that you do so. Many businesses require credit card numbers, bank account details, dates of birth and addresses of their customers. However, this is enough for someone to steal their identity, which is why you should make sure you do not retain this data if you want to protect them from identity fraud.
What’s more, by taking financial details, this could put them at risk of someone tapping into their bank or credit card account and stealing money from them. Therefore, you should never store this information to avoid this security threat for your clients.
- Protect employees
It is not just customers you want to protect, but members of staff too. As your business grows, you will be employing more and more people. Therefore, it is wise to have a proper HR facility to ensure you comply with employment legislation.
Something you will have to do is treat and store their personal details carefully. When entering employment with a business, staff typically have to give copies of their qualifications, ID, bank account details, their national insurance number, health details and photos of themselves. This is a substantial amount of information for someone to use fraudulently if they wanted to.
Therefore, it is essential you handle this information carefully, and once you have used the details you need, dispose of the copies carefully by shredding them.
- Abide by the law
Do not forget, it is not just a moral duty to protect others’ personal information, but a legal one. In May 2018, changes were made to the General Data Protection Regulation (GDPR), which was introduced to replace the Data Protection Directive across Europe.
This stipulates that companies taking personal information from clients or customers have to ask for permission to use this data in an understandable way. This means people should be easily able to withdraw their consent for the companies to contact them in the future or pass their data on.
Failure to comply with GDPR will result in severe penalties, up to four per cent of annual global turnover or €20 million (£17.83 million), depending on which is the higher amount.
- Save space
These days office space can be expensive, which is why any excuse to be able to reduce the area required is sure to be welcome. By shredding as many documents as possible or keeping them electronically, businesses can save space, and therefore, money renting out somewhere bigger.