How to Protect Yourself This Fraud Awareness Week and Beyond

Former Chair of the US Federal Reserve, Alan Greenspan, once said that being informed makes one less vulnerable to fraud and abuse. Every bit of awareness helps strengthen your ability to protect yourself from fraudulent activities. Ginni Rometty, the first woman CEO of IBM, highlighted the severity of the issue by stating, “Cybercrime is the greatest threat to every company in the world.” Fraud Awareness Week aims to equip you with the knowledge and tools needed to safeguard yourself against fraud and abuse, not just this week, but for the future as well. Here are some essential steps to help you stay protected:

1. Establish an Information Destruction Policy

Relying solely on employee vigilance to protect sensitive information is unrealistic. Implementing a clear information destruction policy ensures that everyone understands what needs to be destroyed, when, and how. This policy minimizes errors and provides a consistent approach for handling information, reducing the risk of data breaches. A comprehensive information destruction policy should address:

• What to Destroy: Identify the types of documents that need to be disposed of securely.
• When to Destroy: Specify the appropriate times for destruction, whether it’s immediately after use or after a certain period.
• How to Destroy: Outline the methods for destroying documents, ensuring they cannot be reconstructed or retrieved.

Everyday Documents

Adopt a “shred-all” policy for everyday documents. This means that regardless of the information on the paper—whether it’s a hand-written sticky note, a magazine with address labels, or a formal document—it should be shredded before disposal. This practice ensures that no sensitive information can be recovered.

Long-Term Documents

While long-term documents like tax records, personnel files, medical records, and client information are not meant to be kept indefinitely, they must be retained for specific periods as mandated by law. Once these documents reach the end of their lifecycle, they should be properly shredded to prevent unauthorized access.

2. Ensure Employees Refile Documents After Use

Implementing a clean-desk policy is a smart way to enhance security. By keeping files off desks and storing them in secure locations, you reduce the risk of sensitive information being exposed to unauthorized individuals. Data breaches often occur when documents are left unattended and easily accessible. Studies have shown that a lack of internal controls is a significant factor contributing to fraud. To prevent this, encourage employees to:

• Refile Immediately: After using a document, return it to its designated secure storage location.
• Use Secure Storage Solutions: Utilize locked cabinets or digital storage systems to keep sensitive information safe.

3. Train Staff in Information Security

Employees play a crucial role in maintaining information security. Without proper training, they can become the weakest link in your defense against fraud. Regular training sessions should cover the following key areas:

• Protect Confidential Information: Ensure that all personally identifiable information (PII) is safeguarded from the moment it is created until it is securely destroyed. There should never be a time when sensitive data is left unprotected.
• Verify Identities: Confirm the identity of anyone who handles sensitive information. Do not share information with individuals who are not authorized to access it.
• Shred All Discarded Paper: Make it a mandatory practice to shred all paper documents before disposal.
• Secure Documents at All Times: Ensure that no documents are left out or unattended, whether during the day or at the end of the workday.
• Report Fraudulent Activity Immediately: Encourage employees to report any suspicious or fraudulent activities without delay.

4. Back Up Paper Documents

Physical documents are susceptible to loss, theft, damage, or destruction. Without backups, these documents could be lost forever. Creating digital backups is an affordable and effective way to protect your information. To ensure maximum security:

• Store Backups Separately: Keep digital backups in a different location from the original paper documents to prevent both from being compromised simultaneously.
• Implement a Disaster Recovery Plan: Have a clear plan in place for recovering lost or damaged documents. Ensure that all staff members are familiar with the procedures and can act quickly in an emergency.

5. Ensure Proper Destruction of Documents

While it might seem cost-effective to handle shredding in-house, this approach often has hidden drawbacks and expenses. Consider the following issues with DIY shredding:

• Time-Consuming: Shredding machines require employees to spend time feeding documents, fixing paper jams, and disposing of shredded material. This can lead to frustration and reduced productivity.
• Risk of Incomplete Shredding: Improperly shredded paper can sometimes be reconstructed, allowing dumpster divers to retrieve sensitive information from discarded documents.
• Vulnerability During Shredding Process: Documents are most vulnerable when they are between being discarded and being shredded. Without secure shredding containers, documents can be easily accessed by unauthorized individuals.
• Lack of Proof of Destruction: Shredding in-house provides no official record of document destruction, which can be problematic during audits or legal inquiries.

To address these challenges, consider partnering with a reputable shredding company like ShredPro Secure. Here’s why:

• Secure Shredding Collection Containers: ShredPro Secure provides locked containers where you can safely discard documents until they are collected for shredding.
• Certified Destruction: ShredPro Secure is NAID AAA Certified, ensuring that all destruction processes meet the highest security standards.
• Certificate of Destruction: After shredding, you receive a Certificate of Destruction, providing official proof that your documents have been securely destroyed.

By choosing a professional shredding service, you eliminate the risks associated with in-house shredding and ensure that your information remains protected against fraud.

ShredPro Secure offers comprehensive shredding services designed to keep your business safe during Fraud Awareness Week and beyond. Our secure information destruction services are NAID AAA Certified, guaranteeing the highest level of security for your sensitive information. To protect your business, call us at 865-986-5444 or complete the form on this page.