Privacy Act:

HIPAA - (Health Insurance Portability and Accountability Act)

In 2009 the American Recovery and Reinvestment Act (ARRA) Amended HIPAA to be effective as of February HITECH (Health Information Technology for Economic and Clinical Health Act). This act expands the reach of HIPAA's data privacy and security requirements to ensure the security of Protected Health Information (PHI)

Audits are being highly enforced more than ever by the State Attorneys General office. The State Attorneys General office is enforcing the security requirements by slapping fines from thousands of dollars up to millions of dollars depending on the severity of unacceptable information disposal, such as medical records being discarded in dumpsters or land fills.

The State Attorney's General offices now get to keep a percentage of the fines they are imposing on medical facilities for improper disposal, therefore, this is even more incentive for them to enforce these laws.

FACTA - (Fair and Accurate Credit Transaction Act)

FACTA holds every business in the United States liable for protecting an individuals private information whether you are a small business owner or a large multi million dollar financial institution or corporation. It requires all private information be destroyed prior to discarding. The Federal Trade Commission (FTC) regulates and enforces the FACTA Disposal Rule.

The Disposal Rule basically states any person or business that has consumer information in their possession in order to conduct their business is to take measures to insure the consumer information is destroyed properly.

The recommended measures would be to destroy by shredding, burning or pulverizing this material or to contract an outside source that handles record destruction based on one of these methods of disposal.

GLBA - (Gramm-Leach Bliley Act)

The Gramm-Leach Bliley Act also known as the Financial Modernization Act of 1999. This act applies to all Financial Institutions and includes provisions must be taken to protect consumers personal financial information held by any financial institution.

Federal and State Agencies are given authority by the GLBA to enforce the Financial Privacy Rule and the Safeguards Rule. These regulations apply to all financial institutions, which include banks, security firms, collection agencies, insurance companies, consumer loan companies, brokerage firms, CPA offices, tax return offices, real estate settlement services and several others. These rules require all financial institutions to implement and enforce procedures to protect consumer informaton.

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