Out with the old and in with the new.
There’s no better time than the start of a fresh new year to examine your company’s organizational habits and implement ways to be more efficient and secure—this includes your records management program and how data is stored, secured, and destroyed.
You’ve most likely thought about shredding the paper files that continue to pile up and consume valuable real estate, but what about IT hardware assets containing sensitive information? It’s time to minimize the risk of a data breach by including a compliant hard drive destruction service in your records management strategy. Let’s take a look at why.
Benefits of Destroying Old IT Assets
Strict state and federal regulations, the continued increase of identity theft, and the protection of confidential business information are reasons why today’s organizations must have a secure and compliant destruction program in place. Here’s a closer look at some benefits of destroying old IT assets within your organization.
From hard drives to memory cards to servers, today’s technology is constantly evolving, and so are the skills of hackers and cybercriminals. This means that as your organization replaces technology, IT assets no longer in use must be properly destroyed. Shredding them into unusable bits is the most secure and compliant method.
The Global Risks Report 2024, by the World Economic Forum (WEF), ranked cybersecurity failures seventh among the ten most significant risks facing the world in the next two years.
If sensitive data is left on old technology and the data is compromised, your company can be held liable, resulting in disastrous consequences for your business. A company’s failure to keep sensitive information—especially personally identifiable customer and employee information—safe can result in millions of dollars in lost revenue, potential fines, and lawsuits. For example, Morgan Stanley recently agreed to pay a 60 million dollar lawsuit fine for a data leak caused by improperly decommissioned technology.
The shredding of hardware assets is essential to remaining compliant with all industry laws and regulations. IT assets that are out-of-date or no longer in use should follow a strict retention schedule to meet destruction regulations, including NAID certification requirements.
In the event of a data breach, companies grapple with the immediate fallout and face the looming threat of regulatory non-compliance. Around the globe, authorities have intensified data privacy and protection regulations enforcement. This heightened vigilance means that any lapse in adhering to these rules can result in harsh consequences for businesses. These repercussions often include hefty financial fines and, in some severe cases, may lead to halting business operations. Such penalties can have a devastating impact on an organization’s financial health and its public image.
The Modern Law Firm’s Guide to Records Management
When was the last time your law firm took a strategic look at the way records and information are handled? In our new eBook, learn how to create an effective, comprehensive RIM program that will reduce your firm’s legal risk…
Identifying a Partner to Help
Not all vendors are created equal.
While many vendors market themselves as experts in destroying IT assets, you must do your homework and find a partner who is both reputable and compliant. After all, improperly destroying IT assets can significantly damage your company’s reputation and rack up millions in fines.
When choosing a hard drive shredding service, here are some key offerings to look for to ensure secure IT destruction and compliance:
- Total destruction of computer hard drives/CPUs
- All hard drive destruction processes meet NAID certification requirements
- A certificate of destruction or work order receipt provided for each request
- Chain of custody and strict authorization protocols followed 24/7
If your organization requires an additional layer of security, look for a partner who offers witnessed destruction services.
As this new year kicks off, dedicate time to reviewing and enhancing how your organization handles the storage and destruction of IT assets. Partnering with a reliable hard drive shredding service helps reduce the chances of data breaches and fines associated with improper disposal, making it a worthwhile investment in risk mitigation and compliance.