When most people think of document destruction or shredding confidential papers, they most often think of common things that must be protected when performing these activities: privacy, trade secrets, customer lists. There's more to it than that. There are actually legal requirements that individuals and companies must meet. You or your company can be held liable if personal information is released to unauthorized parties - whether the leak was intentional or inadvertent.
Also hot topics in today's internet age of information is the concern of identity theft. If you or your company maintain personal information - customer data, credit cards, health records, financial records, etc... - if that data is released, it can be argued that you are liable for any damages that result from the leak. This includes electronic leaks but just as importantly - old fashioned paper documents and records. Due to this potential for liability, you should limit your exposure by destroying documents that are no longer useful or the legal retention period has expired. Consider hiring a reputable paper shredding service to handle your destruction needs and ensure that your sensitive documents are properly handled and destroyed throughout the process.
Some recent cases where had these companies implemented a document destruction plan and adhered to it, they would not be in trouble.
12 May 2009 - Walgreens Seeks to Settle Case Over Dumped Documents - In Indiana, an investigative news team discovered personal information in the dumpsters of familiar drugstore companies Walgreens and CVS. CVS settled for $2.25 MILLION - the terms of Walgreens possible settlement have not yet been made public, but you can believe that the cost of the settlement will be much greater than had they adequately destroyed confidential documents.
12 May 2009 - Script For The Next 'Twilight' Movie Found In St. Louis Dumpster - It doesn't have to be medical records or personal data. It could be company trade secrets, or in this case the script for upcoming blockbuster Twilight movies. The fan who found the movie script didn't publish the details or sell them to the tabloids, but imagine the damage to the Twilight franchise that could have resulted from this inadvertent disclosure of information. Had proper paper shredding techniques been employed, this would have never happened!
There are more stories out there happening every day. Don't let you or your business be the next one published by the newspapers. Ensure that you take the proper steps to protect yourself!