Have you ever stopped to think about the actual cost of stolen information or a data breach? If someone were to get their hands on your company’s data, what could they do with it and what would it cost you?
Improper shredding puts you, your company, and your customers at risk. According to the Breach Level Index, more than 6 million data records are lost or stolen every day. In addition to the risk associated with losing access to important or personal information, data breaches come at a high cost. According to the Ponemon Institute’s 2018 study, the average cost of global data breaches is about $3.86 million, or about $148 per data record. This cost varies by the size of the breach, but you get the idea. Imagine losing thousands of data records, or even more.
That’s why it’s important to ensure your records are secure, particularly when it comes to document destruction and shredding. Stolen data doesn’t just happen online. It can also happen when important documents or records are disposed of without being properly destroyed first.
You might think you can just use any shredder and toss your documents out with the trash, but that’s not the case. Here are the steps you can take to minimize the risk associated with lost and stolen data:
1. Review security around your stored documents.
Where and how are documents stored? Who has access? Are your security measures up to code? Ensure you’ve taken the necessary steps to protect your company and client information.
2. Review your document destruction process.
Do you shred documents internally or do you outsource? How many people handle the documents, and are they trained in handling confidential documents? Where do the documents go after they have been shredded? (Hint: You can’t just send them to the trash.)
3.Consider outsourcing your shredding through a certified shredding company like SunCity.
If you’re not already outsourcing, it might be time to start. You want to choose a shredding company that’s equipped to handle your most sensitive documents to help minimize your risk of lost or stolen data. You want a company that adheres to privacy standards and regulations surrounding document destruction so that you know your business, your clients, and your employees are protected.
4. Know what to do if you discover stolen or lost information.
The impact and cost can be minimized if you take the proper steps right away when you discover a breach. But why take the risk in the first place? Start reviewing your document destruction process today.
If you want to take the next step in minimizing your risk by outsourcing your shredding, contact us to see how SunCity can provide you with responsible, reliable, and secure shredding options. Give us a call today!