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  Category: Articles » Finance » Article

Are you a victim of identity theft?

By Michael Rad

The scale of identity theft has been recently analyzed in a federal report and the general results were worrying. The report states that lately, one out of four American homes is targeted by identity theft. One answer to this problem is the new June 2005 FACTA Law (Fair and Accurate Credit Transactions Act) which brings new regulations concerning identity theft.

The problems caused by identity theft cost taxpayers billions of dollars each year. There are many ways in which identity theft strikes: a person having personal information on someone else can easily open fraudulent bank accounts, charge credit cards, rent buy or sell items with a different name and so on. Victims of identity theft often have a very late response and they realize that they have been robbed or cheated out of their money only weeks, months or even years later. The number one cause for identity theft are all the documents that contain such sensitive personal information and get thrown in the garbage, instead of being properly disposed of by using a paper shredder.

FACTA law and paper shredders

The fines imposed by the FACTA law for businesses that do not dispose of document containing personal employee information properly are high. The best way of avoiding both the FACTA fines and any risks of allowing employee information to fall in the wrong hands is to purchase a paper shredder. While the cots of a shredder and it's presence in the office might seem like an extra burden, the paper shredder is, in fact, your best bet against identity theft and other forms of fraud. Small office shredders are great for small offices with only a few employees, while larger corporations can purchase a cross cut paper shredder that can process thousands of documents each day.

Why do I need a shredder?

There are many reasons for purchasing a paper shredder (find out more here: ) and the need for such an office device increased since the FACTA Law "Fair and Accurate Credit Transactions Act" was passed in 2005. Many offices consider such a purchase but are worried about the room the paper shredder will occupy. There is good news for them – small office paper shredders – they take very little room and offer more than enough shredding capacity for a small 3-5 person office. Another issue some company managers come across is related to paper shredder costs. However, the device requires almost no cash to maintenance and run and the fact of knowing that your disposed documents cannot be pieced together is worth every cost.

Please visit our website for detailed identity theft and paper shredder information:
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