In many organizations, correct destruction of data is an issue of reputation. Businesses that suffer data leaks because of ineffective data destruction practices are likely to be in negative publicity and an erosion of confidence from clients and customers. This could lead to an end of business as well as an impact on their reputation for a long time. Furthermore, proper data destruction can assure clients and clients that their information is safe whenever they are working with a specific company.
Security of data is also a matter of law as well as regulatory conformity. Businesses must abide by-laws that require the proper destruction or protection of information, just as privacy policies that protect both the consumer and business.
The Importance of Proper Data Destruction
What happens when businesses do not follow the meticulous and thoughtful deletion of their data? To safeguard your data and secure confidential information, follow these tips from experts:
The first is the direct danger of leaked information. This could involve intellectual property that competitors could make use of to gain an edge ahead of the competition. It could also be customer information, leak that could cause a severe loss of trust among your clients and customers.
In addition, companies who fail to securely erase data may find themselves in breach of complying with lawful protection of data. This could result in penalties and other problems, all of which add up to significant additional costs for businesses.
The bottom line is that it’s a lot less expensive to invest in efficient and safe data destruction as opposed to not effectively destroying data and dealing with the consequences.
Choosing the Right Secure Data Destruction Company
To ensure that your data is safely destroyed the best option is to hire the services of data destruction from an experienced and reliable safe data destruction firm.
A poor choice of vendors or not focusing on the validity of their data destruction could be devastating, as was the case in the instance of Morgan Stanley Bank, which was fined $60,000 for its lapse. The statement released by the Department of Treasury’s Office of the Controller of the Currency regarding a data breach committed by US bank giants in 2020, outlines the reasons why data destruction that is secure is vital:
“Among other things, the Morgan Stanley bank failed to effectively assess or address risks associated with decommissioning its hardware; failed to adequately assess the risk of exercising adequate due diligence in selecting a vendor and monitoring its performance.”
OceanTech is a market leader in ITAD and data center decommissioning and destruction services. It is crucial that we adhere to or exceed the requirements of all industry standards and regulations. We achieve this by ensuring R2:20123 Responsible Recycling ISO 14001:2015 Environmental Management System and IS 45001:2018 Occupational Health and Safety Management System certifications. Our data sanitization procedures ensure that data with sensitive information is not recoverable. We delete data in accordance with the following regulations and laws:
- PCI (Payment Card Industry Security Standards)
- Sarbanes-Oxley Ace
- GLB (Gramm-Leach-Bliley Act)
- BSA (Bank Secrecy Act)
- Patriot Act
- Identity Theft & Assumption Deterrence Act
- FDA Security Regulations (21 C.F.R. Part 11)
- Family Educational Rights and Privacy Act (FERPA)
OceanTech’s Destruction on Demand (DoD) service is the most flexible all-around onsite solution for data destruction. Our team for data destruction is comprised of veteran experts with a combined over 30 years of the field of data destruction and security expertise.
We can give you a free consultation about the ways OceanTech DoD services can meet the needs of your company’s data destruction requirements and save you millions of dollars.