Keep financial information safe for your customers.
As the amount of data grows exponentially, financial institutions are mandated by law to effectively protect sensitive information. Compliance involves knowledge of where the data resides, protection from internal and external breaches, proper disposal of the data, and process documentation. Every step requires a documented process. CentricsIT solutions comply with onsite data eradication or destruction policies and are cost-effective while also maximizing potential resale value.
- FACTA added sections to the federal Fair Credit Reporting Act (FCRA) as a way to protect consumers.
- Regulation is intended to help consumers fight growing crime of identity theft.
- An estimated 13.1 million individuals were identity fraud victims in 2013, and that number skyrocketed in 2014.
- FINRA protects financial and personal customer information.
- Firms are required to have policies and procedures addressing the protection of customer information and records.
- Regulation protects against unauthorized access to or use of customer records and information.
- GLBA governs the protection of private financial information.
- Privacy protections regulate financial institutions, which include businesses engaged in banking, insuring, stocks and bonds, and financial advice.
- Failure to comply can result in fines up to $250,000 per occurrence.
The CentricsIT suite is customized to the specific market regulations of each vertical. Our Financial Industry services include a repurposing and remarketing suite with a versatile onsite data destruction solution. Each engagement is governed by a detailed Service Level Agreement and produces a comprehensive subset of deliverables and compliance reports. As an environmental steward, our ITAD suite fully complies with BAN’s e-Steward program, ensuring that all recycled material is processed in accordance with all federal, state, and local regulations.