FACTA Guidelines for Disposing Client Information
In March of 2008, a man in Wichita, Kansas left his home for several months to take care of his sick mother. Unbeknownst to him, a married couple broke into the house, assumed his identity, and proceeded to purchase various luxury items, including flat screen televisions and a satellite hookup, while they took up residence as if it were their own home. They even invited neighbors over for dinner and took out a second mortgage in the real homeowners name.
It's clear that the specter of identity theft has grown quite prominent over the last decade. In order to protect the public from the likes of the home invaders described above, the federal government has enacted the Fair and Accurate Credit Transactions Act (FACTA). FACTA affects how businesses should dispose of records or documents containing consumer information. Likewise, it will serve you well as a client to ensure that the business doing work for you follows the FACTA guidelines, or you could end up opening up a nasty credit card bill showing pricey purchase of Elvis memorabilia from QVC that you never authorized.
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