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Large-scale financial malfeasance and identity theft are among the fastest growing crimes in America. In fact, the FBI estimates that information theft costs U.S. corporations $24 billion annually. Some experts consider it a very low number, claiming actual losses are closer to $50 billion a year. Recent U.S. legislation aimed at preventing identity theft and protecting private information requires that medical, financial, and even general businesses adopt protective measures when disposing of confidential information. Adopting an on-site shredding program is an important component of your information security policy.

Companies affected by these and similar regulations face serious penalties and potentially ruinous lawsuits in the event of non-compliance.