WIth identity theft one of the fastest growing crimes in modern time, many new laws have been passed to insure the security of personal information. Some of these laws include Hipaa, Gramm Leach Bliley Act, The Economic Espionage Act (EEA), and The Fair and Accurate Credit Transactions Act (FACTA)

HIPAA. The Health Insurance Portability and Accountability Act (HIPAA) of 1996 regulates the healthcare industry in the United States and assures that healthcare organizations will be responsible for the secure electronic transmission, secure storage and disposal of patient information.

The Gramm-Leach-Bliley Act of 1999 (GLB). Mandates that financial institutions that obtain nonpublic personal information through the normal course of their business must develop precautions to ensure the security and confidentiality of customer records and information, and to protect against unauthorized access to or use of such records. This includes secure storage, disposal, and sharing of confidential information. Who must comply with the Gramm-Leach-Bliley Act: Banking and credit issuing, Insurance, Stocks, bonds, and investing, Financial service providers

The Economic Espionage Act (EEA). Makes the theft or misappropriation of trade secrets a criminal offense. Taking papers from Dumpsters outside offices is called “Dumpster diving” and is a common tactic used by commercial information brokers as well as foreign intelligence services. It involves collecting and going through the trash left out for collection from residences and businesses. Stealing trash is not illegal. The Supreme Court ruled in 1988 that once an item is left for trash pickup, there is no expectation of privacy or continued ownership. Who is affected by EEA: U. S. Citizens, General businesses handling sensitive data in hardcopy

The Fair and Accurate Credit Transactions Act of 2003. Also known as the FACT Act. Was signed into law on December 4, 2003. In general, the Act amends the Fair Credit Reporting Act (“FCRA”). The Act contains a number of provisions intended to combat consumer fraud and related crimes, including identity theft, and to assist its victims. Specifically the act requires the destruction of PAPERS CONTAINING CONSUMER INFORMATION. It is hard to imagine any business or organization that is not bound by this law.

The proposed DISPOSAL RULE. Sec. 682.3 Proper disposal of consumer information.

A) Standard. Any person who maintains or otherwise possesses consumer information, or any compilation of consumer information, for a business purpose must properly dispose of such information by taking reasonable measures to protect against unauthorized access to or use of the information in connection with its disposal.

B) Examples. Reasonable measures to protect against unauthorized access to or use of consumer information in connection with its disposal would include implementing and monitoring compliance with policies and procedures that require the burning, pulverizing, or shredding of papers containing consumer information so that the information cannot practicably be read or reconstructed.