2005-06-30 / Business & Finance

Businesses Fight Nation’s Fastest Growing Crime

(NAPSI)-Identity theft is big business. In fact, companies lose, on average, nearly $50 billion annually through the theft of proprietary information. With these crimes showing no signs of waning, the Federal Trade Commission enacted a provision under the Fair and Accurate Credit Transactions Act (FACTA) entitled “Proper Disposal of Consu-mer Report Information and Records.” The provision requires businesses -even those employing just one person-to properly dispose of a consumer report or any record derived from one. This includes data pulled from credit reports and credit scores.

The FTC, according to the provision, generally recommends destroying or shredding records containing consumer information. Depending upon the volume of personal records, this method of destruction can be accomplished easily with the purchase of a shredder.

The leading manufacturer of shred-ders for home and office use offers the largest selection of innovative shredding solutions.

With the recent heightened awareness of identity theft, more and more companies are buying shredders to protect their business,” said John Fel-lowes. His company “makes shredders that can safely shred staples, paper clips, credit cards and even compact discs-valuable features in today’s information age.”

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