Many companies are aware of the standards by which the PCI DSS determine that businesses should run, in terms of financial information processing, but many people still have to ask, what Are PCI Compliant Paper Shredders?
The Payment Card Industry Data Security Standard or PCI DSS is a governing body created by some world leader financial institutions. This body has in recent years developed and implemented a list of requirements by which all companies that make use of credit card transactions to run their business need to comply. These procedures ensure that any information which the consumer releases to the company is kept safe and handled appropriately.
It is compulsory for all companies to be PCI compliant and this is in the best interest of the consumer and the supplier as it protects financial information and reduces any risk of fraud and identity theft. There are sever penalties for companies who prove to be non compliant by the PCI DSS standards and the large fines could be extremely detrimental to a small companies survival.
These comprehensive guidelines are not only put in place to ensure secure transaction processes but also post transaction in the way in which the papers and documents are disposed of. Any papers or important documents which disclose the client’s name, contact details, social security numbers and any financial information are to be shredded before they are thrown into the trash.
The reason for the organization putting this law in place is that there are people today who rummage through the trash of companies looking for important details which they can then use to defraud people and steal their identities. Unfortunately, dumpster diving is not illegal and laws state that if the dumpster is on public property then anything found within it is fair game.
It is essential to dispose of such documents as soon as they are no longer needed by your company and make sure that the shredder your company uses complies with the PCI DSS set standards.
The shredders which are approved by PCI DSS are called cross-cut shredders and these shred the documents into extremely small pieces with dimensions in the area of around 1/4″ x 1- 1/2″, this small size makes them irreparable and completely useless should they fall into the wrong person’s hands. Another benefit of these shredders is that because the paper is shredded so finely, it reduces bulk when it comes time to take out the trash.