Are you complying with the Red Flag Rules?

Security breaches can happen to any business, and when they do, they can take years to overcome. In an effort to protect businesses and consumers from a security breach, the Federal Trade Commission implemented a set of regulations, known as the “Red Flag Rules.” These rules force businesses to be proactive in preventing security breaches by requiring implementation of written Identity Theft Prevention Programs to detect the warning signs of identity theft in day-to-day operations. Businesses need to keep planning and preventing a security breach top of mind. There are several key areas that should be considered when reviewing Identity Theft Prevention Programs:

• Choose employees wisely. Protect your company and your customers’ information by completing thorough background checks. Make sure all keys are returned and passwords are changed once an employee has left.
• Select a secure location to house sensitive information. Lock all information and utilize security cameras and alarm systems to deter break-ins. For extra reassurance, seek out a records management firm that specialized in secure document protection.
• Properly destroy sensitive information. At the end of a document’s retention period, schedule the information to be securely shredded immediately. For larger shredding jobs, consider utilizing a company that specializes in shredding and that can provide a certification of destruction.

Remember, information is your company’s most important asset, so you can never be too careful when protecting it.

Photo by John Taylor