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Secure Shredding Services Services for the Financial Industry

The success and failure of financial service businesses relies largely on the organisation’s reputation and integrity. Both consumers and corporate clients expect service and performance built on a foundation of privacy, confidentiality, and information security.

And yet, according to Trustwave Global Security Report, up to 14% of global information breaches occurred in the finance and insurance industries,1 resulting in the theft of everything from card track data to financial credentials.

With numerous high-profile breaches, how financial institutions collect, store, and destroy confidential information is coming under increased scrutiny.

Shred-it’s paper shredding and data destruction services help ensure the security of personal information and reduce the risk of data breaches.

Do the maths.

37%

of all UK businesses reported a data breach incident to the ICO in the last 12 months

Source: Atomik Research (May 2020)

The average global cost of a data breach in financial services is

£4.52M

– the second highest of any industry

Source: 2019 Cost of a Data Breach - Ponemon Institute

43%

of security incidents within the financial sector are caused by employee failure to follow company data protection policies

Source: Clearswift

Services we typically recommend for the Financial Industry.

  • On-demand Shredding

    Clears out the clutter that can build up when storing financial records with a one-off shredding service.
  • Media Destruction

    Destroys digital information found on anything from USB drives to CD-ROMs.

Protect your data with our secure shredding services.

Not everything you collect, store, or handle is digital. When financial forecasts are printed, or agendas are circulated, they are at risk of falling into the wrong hands if they are not handled and disposed of securely.

For that reason, every financial business is at risk of an information breach regardless of size, type, or location. Especially seeing as 24% of all data breaches are caused by employee error or negligence [6].

In an industry that relies on privacy and confidentiality, the reality is that many information breaches happen not because of inferior firewalls or passwords, but because of employee error or poor judgement.

With a quarter of your risk coming from inside, you need to ensure your staff know how to identify, handle and securely dispose of confidential information – whether that information is digital or in paper form.
 

Don't risk an information breach

Financial institutions of every type collect some of the most sensitive, private, and confidential information there is. What happens to that information when it is no longer needed, can become the source of an information breach!

If you create, collect, or dispose of these types of documents, you and your organisation could be at-risk of an information breach.

  • Payroll Forms
  • Financial Statements
  • Balance Sheets
  • Income Statements
  • Contracts
  • Personal Financial Statements
  • Invoices
  • Purchase Orders
  • Foreign Exchange Transaction Slips
  • Inter-institution Transaction Slips
  • Tax Filings and Internal Audit Forms
  • Development Plans

"Meets our compliance regulations of shredding our material at our location. Pricing is where we need it to be. Convenient automatic pickup scheduling and come when they are scheduled. We especially like the people who come into our business to empty our containers. Very professional and friendly!" Ameriprise Financial

"Very easy to schedule and very nice hard working drivers and shredders." Schnell Financial Group

"The proactive approach to giving your clients an awesome experience!" Northwestern Mutual Financial

"Very professional. The easiness of tossing papers into the bin. Not worrying about me shredding tons of paper. You are doing the work for me." Mustard Seed Financial

GDPR compliance: don’t become a statistic.

Since the introduction of the General Data Protection Regulation (GDPR) in 2018, reported data breaches have surged by two-thirds, resulting in significant fines and subsequent reputational damage [7].

41% of UK consumers claim they will never return to a business that has had a data breach [8]. Ensure GDPR compliance, avoid fines and protect the reputation of your organisation with our world-class paper shredding and data destruction services.

[1] – 2019 Trustwave Global Security Report
[6] – 2019 Cost of a Data Breach – Ponemon Institute
[7] – Information Commissioner’s Office
[8] – Business Wire

Get informed. Stay protected.

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