The Fair and Accurate Credit Transactions Act
What is FACTA?
Signed into law on December 4, 2003, the Fair and Accurate Credit Transactions Act (FACTA) is federal legislation aimed at the prevention and penalization of consumer fraud and identity theft. Administered by the Federal Trade Commission (FTC), the FACTA Disposal Rule has been in effect since June 1, 2005. The Disposal Rule puts in place requirements for proper document disposal and destruction and recognizes the problems that can and do arise when private information is disposed of in an irresponsible manner.
Who is affected by FACTA?
FACTA applies to virtually all persons and businesses in the United States, mandating that “any person who maintains or otherwise possesses consumer information, or any compilation of consumer information, for a business purpose must properly dispose of such information by taking reasonable measures to protect against unauthorized access to or use of the information in connection with its disposal.”
Under FACTA, consumer information is defined as personal identifying materials which extend beyond just a person’s name, including:
- A social security number
- A driver’s license number
- A phone number or e-mail address
- A physical address
To comply with the FACTA Disposal Rule, businesses and individuals must take “reasonable measures” to ensure such information does not fall into the wrong hands. Reasonable measures include the “burning, pulverizing, or shredding” of paper documents, such as the contracting of a third-party engaged in the document destruction business to dispose of confidential information in a manner consistent with the Act.
Failure to abide by FACTA may result in stiff penalties. Victims are entitled to actual damages sustained due to incompliance; they may also seek statutory damages, and, in some cases, file class-action suits. Federal and state authorities are also empowered to bring legal enforcement actions against businesses that violate the Act.
Your Partner in Regulatory Compliance
By purging outdated files or placing one of our locked security consoles in your office, Proshred® can assist your company with FACTA shredding services while maintaining a document disposal program that meets FACTA laws. Using state-of-the-art technology, our highly trained and certified security professionals efficiently shred all documents right on your premises. We give you the option to watch the shredding process, and also provide you with a Certificate of Destruction that records each shred. Trust Proshred® as your partner in compliance with FACTA shredding requirements for maintaining your document security program.
For more information on the Fair and Accurate Credit Transactions Act (FACTA), visit: Federal Trade Commission
What Are People Saying About Proshred®
Today, Tuesday, 1/10/23, at 2:00 PM, I went to Pro Shred located in Elmsford to drop off two bags of papers. I was not aware that they did not accept cash or Apple Pay.
I am a first time customer, so I did not know the payment method. Met with Lamont, who explained they did not accept cash, however, he did look into the Apple Pay. This is when I met with Steven, who, like Lamont, spoke in a friendly and professional manner. Steven explained an alternative way, which I’d gladly accepted. Overall, the friendly and professional service I received from Steven in Lamont was exceptional. Thank you very much!
I was very pleased to know that they were NOT Dallas Cowboy fans!
Go Giants!
Jay Romano
When contract a job I am very specific about wanting to be charged what I am quoted. Usually I can't even get past the quoting when other companies start saying they will do it by box and then start talking about bin size on the phone. Pro Shed and Tara who quoted the job, did not play any games with me. They quoted a box price and then honored the box price. Not only was Tara grear, but when the guys showed up to do the shredding, they were professional, friendly, confident, and hard-working. Everything went as planned straight through the payment. I would refer anyone to this company at any time, because I feel comfortable that they did a good job for me and would do a good job forgrade,
I needed a little more shredding done, a very small job, just a little residual from the big job at a later date, and they are handling that great as well. I spoke to the manager today about them coming out on Monday for the residual and told him how pleased I was with the service. Unfortunately I can't remember his name but he was so professional as well and I'm so glad that I deal with this company. Don't use anyone else use a class act. ProShred gets 5 starts in all categories.
I have limited need for shredding services--every year or two, I need to shred some old credit card slips and bank statements and such. It is always very easy to load 8-10 boxes of stuff in the back of my station wagon, drive it over to ProShred and then unload it into a bin, pay the fee and I'm on my way. Easy peasy. The staff is aways friendly and cheerful; they will do my shredding for the foreseeable future.