Published 24th of July 2019
Financial documents often contain important, sensitive information. It’s the nature of the industry that businesses in the finance sector have more of these documents around the office, making it vital that documents are taken care of over information security policies.
It is a legal requirement that all financial records are destroyed securely once no longer needed. This is a priority for all banks, insurance providers, building societies, investment firms and any financial organisation. Financial organisations have a massive responsibility to protect their customers information and are duty-bound to operate to strict privacy regulations. The loss of sensitive, financial or personal information could have a devastating effect on an organisation’s reputation and future growth.
The importance of compliance
Complying with GDPR legislation stops financial organisations facing legal fines from data breaches and confidential information landing into the wrong hands. A lack of security can lead to high fines and compensation, as well as destroyed customers trust and long-term reputation damage.
It’s important that both data controllers and data processors know how long they should keep confidential documents for but also the compliant way to dispose of them. Accounting and finance companies need to make sure they use a secure shredding company that can dispose all confidential paper documents and data.
The solution is Secure Shredding
Financial services possess many types of paper records and electronic media that contains sensitive personal information. These could include:
- Customer records and account details
- Application Forms
- Employee Records
- Insurance forms
- Digital media and electronic equipment
- Documents provided as proof of ID
As you can gather from the above list, financial businesses process a large volume of confidential data, meaning that there is a lot to securely dispose of. Using our on-site or off-site shredding service, you can be rest assured that your documents are being disposed of in a timely and convenient way. We provide a certificate of destruction with every service after the shredding process is complete.
Total Information Management
Keeping on top of your records is not just about shredding documents that you no longer need but organising data, so you know exactly where everything is to stop things from being misplaced. We can scan and store your documents which can be retrieved whenever you need it.