Is the sensitive information that your business or office handles protected?
Laws that, in combination, affect virtually every entity that holds records or information of clients, patients, customers or residents of Massachusetts:
3. HIPAAWho it affects: Any entity that holds Protected Health Information.
Take our Compliance Quiz to test how well you know the laws affecting you!
What can Safeguard do to protect YOU?
1. Help you formulate a records storage and retention plan
2. Securely store and archive your sensitive information
3. Keep all of your information barcoded and inventoried so you can quickly and easily access boxes or even a single file efficiently
4. Provide certified destruction of your information when it's retention period is up
5. Provide secure, large or small, one-time purges of unnecessary but sensitive personal, business, client, patient, and/or customer files
6. Provide lockable, slit-top containers for ongoing destruction of unnecessary but sensitive information
One important federal privacy standard, passed in 2003, was developed to protect the privacy of patients’ health information. Developed by the Department of Health and Human Services (HHS), this is part of the Health Insurance Portability and Accountability Act of 1996 (HIPAA). The full standard can be seen at: http://www.hhs.gov/ocr/privacy/
The governing Act for the accounting industry and for handling records produced by this industry is the Sarbanes-Oxley Act of 2002.
The Securities and Exchange Commission (SEC) specifies requirements around retention of records relevant to audits and reviews in 17 CFR Part 210. The full rules are specified at: http://www.sec.gov/rules/final/33-8180.htm
Specifications on record retention in the banking industry are contained in the Gramm-Leach-Bliley Act of 1999. The full Act can be seen at: http://banking.senate.gov/conf/fincon.pdf
The Fair Credit Reporting Act helps to ensure accuracy and privacy of credit information. More information on this Act can be found at the following links:
The Family Educational Rights and Privacy Act (FERPA) is a Federal law that protects the privacy of student education records. FERPA gives parents certain rights with respect to their children’s education records. These rights transfer to the student when he or she reaches the age of 18. For more information on FERPA, use the following link: http://www.ed.gov/policy/gen/guid/fpco/ferpa/index.html
According to Contingency Planning Research, Inc., a White Plains, N.Y., consulting company only 43% of businesses that suffer an incapacitating disaster, and who do not have an adequate disaster recovery plan in place, ever resume operations. Of the 43%, only 29% will remain in business two years later. Figures such as this and obvious recent events have forced businesses to think about disaster recovery more than ever before. In this case, every industry is involved; no one is immune to the possibility of disaster. In this case, records retention and recovery are a big part of business continuity, and planning for this is an important requirement. Several resources for planning are listed below: