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Important Links for Business and Consumers Security-Shred provides links and documents as a public service and is not responsible for content published on the Internet or in documents by other individuals and/or organizations. Please review information provided and use any information at your own risk.  Identity Theft Resource Center® (ITRC) is a nonprofit, nationally respected organization dedicated exclusively to the understanding and prevention of identity theft.  Nonprofit organizations should have a written, mandatory document retention and periodic destruction policy. Policies such as this will eliminate accidental or innocent destruction. In addition, it is important for administrative personnel to know the length of time records should be retained to be in compliance.Economic Espionage Act (EEA) The Economic Espionage Act of 1996 (EEA) made it a criminal offence to steal trade secrets, defined as "all forms and types of financial, business, scientific, technical, economic or engineering information" that the owner has taken reasonable measures to keep secret and that is not known to the public. The legislation applies to information in any form. Fair and Accurate Credit Transactions Act (FACTA) The Fair and Accurate Credit Transactions Act, 2003 (FACTA) was enacted in December 2003 with more specific document destruction rules coming into effect on June 1, 2005. FACTA amended the existing Fair Credit Reporting Act providing consumers, companies, consumer reporting agencies and regulators with new tools to expand consumer access to credit, enhance the accuracy of consumer financial information, and help fight identity theft. FACTA is administered by the Federal Trade Commission (FTC). Health Insurance Portability and Accountability Act (HIPAA) The Health Insurance Portability and Accountability Act of 1996 (HIPAA) is a United States federal law that requires health care organizations to "maintain reasonable and appropriate, technical, and physical safeguards to prevent intentional or unintentional use or disclosure of protected health information." Protected health information (PHI) includes patient medical records, patient logs, insurance, billing and other personally identifiable health information. Identity Theft Penalty Enhancement Act The Identity Theft Penalty Enhancement Act of 2004. The law established a new federal crime, aggravated identity theft, outlined under "offenses" in the Act: Offenses - (1) In general - Whoever, during and in relation to any felony violation enumerated in subsection (c), knowingly transfers, possesses, or uses, without lawful authority, a means of identification of another person shall, in addition to the punishment provided for such felony, be sentenced to a term of imprisonment of 2 years. (2) Terrorism offense - Whoever, during and in relation to any felony violation enumerated in section 2332b(g)(5)(B), knowingly transfers, possesses, or uses, without lawful authority, a means of identification of another person or a false identification document shall, in addition to the punishment provided for such felony, be sentenced to a term of imprisonment of 5 years. California Senate Bill 1386 California was the first U.S. state to have an agency, the Office of Privacy Protection, dedicated to promoting and protecting the privacy rights of consumers. The State has a number of laws related to privacy and identity theft including Senate Bill 1386 (SB 1386). Since July 2003, businesses and individuals that maintain computerized data that includes specified personal information must disclose any breach of the security of that data. The legislation is designed to give companies the incentive to take proactive steps to ensure that their customers do not become victims of identity theft. |
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