Shredding Credit Applications | A Guide to Security Level Selection

While there is no standard for shredding confidential documents such as credit applications, there are several general guidelines or best business practices that mitigate risk and improve customer confidence in your organization.

Cross Cut- Choose a shredder that cross cuts the documents making them more difficult to read. It is also advised that you stir the shredded paper to make it more difficult to reassemble

Develop a Process and System – Create a well defined system for destroying confidential documents or credit applications. This will ensure you mitigate the most risk and improve customer relationships by building confidence and trust.

3 Reason to Shred

1. Protect Your Company from Identity Theft and Fraud - shredding documents is more than just an easy way to reduce paper volume in the office, it also helps protect from identity theft! According to research in 2006, there were 67,000 victims of identity theft. Remember that thieves can’t steal documentation that they can’t read!

2. Improve Trust and Integrity – By keeping business materials confidential you build a better relationship with your clients confidential and important information. By shredding credit applications and bank information your customers know that you value their information and want to ensure that there is no chance of a security risk.

3. Help the Environment - Recycling paper is a primary concern for all businesses today and now it’s easier than every to recycle!

If your company falls under a federal regulation such as HIPAA, Gramm- Leach Bliley, SOX or FACTA there may be other preferred or regulated procedures for document destruction that must be followed. Please consult your facilities security manager or boss.

In short, shredding credit applications is a simple process that is well worth the investment.

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  1. [...] you are going to be shredding credit applications you can read more in the “How To” section of our blog. TAGS: baking, bank statements, [...]