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Financial Services

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.

Protect your business. Get Shred-it.

Do the maths.

Approximately

46%

of all UK businesses identified at least one breach or attack in the last 12 months. This rises to two-thirds when you look at medium firms (66%) and large firms (68%)

Source: Cyber Security Breaches Survey, University of Portsmouth, 2017

The average cost of a breach to an affected firm in the UK was

£2.48  

MILLION

Source: Cost of a Data Breach, UK, Ponemon Institute. 2017

Data left in insecure locations was the

No. 1

source of reported incidents in the Finance sector in the UK. Insecure disposal was the third cause cited.

Source: PwC for the Information Commissioner’s Office, UK, 2017 (https://ico.org.uk/)

And Financial Services companies that experienced an information breach:

Suffered the highest cost per capita than any other industry at 

£154

a 6.5% rise over the last two years

Source: Cost of a Data Breach, UK, Ponemon Institute. 2017

Just under

30%

of that cost pertains to indirect costs such as lost customers

Source: Cost of a Data Breach, UK, Ponemon Institute. 2017
 

“We have the best cyber-security. It can’t happen to us” – think again

Not everything you collect, store, or handle is digital. When financial forecasts or year-end results are printed for a meeting, when reports or agendas are circulated for a meeting, they are at risk of getting into the wrong hands if they are not handled and disposed of properly and securely.
And for that reason alone, every financial business is at risk of an information breach regardless of size, type, or location.

Up to 28% of information breaches are caused by employee error or negligence.2

It’s not just you that you have to worry about. 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, negligence, or poor judgement!
You may be doing everything you can but one employee, casually dropping a draft financial report into the recycling, can undo everything.
With a quarter of your risk coming from inside, you need to ensure your employees know how to identify, handle, and securely dispose of confidential information – whether that information is digital or in paper form.

recycle bin

"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

Learn to recognise the risks.

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
legal services

Services we typically recommend for the Financial Industry.

  • On-demand Shredding

    service to clear-out the clutter that always builds up when you are storing financial records

  • Media Destruction

    service destroys digital information found on anything from USB keys to CD/DVD-ROM storage
12016 Trustwave Global Security Report
2 Cost of a Data Breach UK. Ponemon Institute. 2017

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