Often when we think of data security, we think of cyber security. However, data security applies to hard copies of data as well. When it comes to securing information within your business, you just can't afford to cut corners or ignore risks. Shredding services can help you manage paper copies of sensitive information. According to the experts at Consumer Affairs, instances of identity theft have soared by 584% in the last 20 years. That said, there's a lot more at risk than you might realize. Let's look at some security risks you might run when you don't properly shred documents.

Data Breaches

The most obvious threat is a data breach. A data breach takes place any time-sensitive information is leaked within or outside of a company. When you gather sensitive information from customers and clients, there's a level of trust there that your company will protect that information and keep it out of the hands of criminals. In addition to breaking the trust of your customers, you might also face hefty fines for data breaches as well. This can have a long-lasting negative impact on your business.

Federal Penalties

Depending on the type of business you own, you may be required to use shredding services to properly dispose of certain types of documents. There are both Federal and state laws that govern the proper disposal of sensitive documents. These regulations often affect government agencies, the healthcare industry, the tech industry, and law services. The investment you make into shredding services could save you money in fines and penalties later.

Loss of Customer Loyalty

If your company does experience a data breach, you are required by law to inform your customers, clients, and anyone else affected. This information might result in the loss of customers or diminished customer loyalty. You have likely spent years building up this trust and loyalty, but you can lose it very quickly. Shredding services are a great way to help protect this trust. When customers and clients know that you are doing all you can to protect their information, they'll feel more reassured.

If your company deals with sensitive information on a regular basis, and keeps hard copies of information, you should invest in shredding services. To learn more about our services, please contact our team at ALL-SHRED, Inc today.