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Industry Regulations & Penalties



Industry Regulations & Penalties

Industry Regulations & Penalties

The risks — and costs — associated with disregarding regulations can be tremendously damaging.

Privacy regulations

California Senate Bill 1386

  • Requirement: Protection of any confidential information about California residents. This includes driver’s license, Social Security, bank account and credit/debit card account numbers.
  • Applies to: Every public or private organization conducting business with California residents.
  • Penalty for noncompliance: Fines from potential class-action lawsuits are determined on a case-by-case basis.

FACTA (Fair Trade and Credit Transaction Act of 2003)

  • Requirement: Any person who maintains or otherwise possesses consumer information for a business purpose must properly dispose of such information by taking reasonable measures to protect against unauthorized access to or use of the information in connection with its disposal.
  • Applies to: Any person who maintains or otherwise possesses consumer information for a business purpose.
  • Penalty for noncompliance: Civil liability in which an employee can recover actual damages from his/her employer for all damages incurred from identity theft.

Gramm-Leach-Biley Act

  • Requirement: Protection of a customer or consumer’s personal financial data, including name, address, Social Security number, account numbers or nonpublic personal data.
  • Applies to: Financial institutions, banks, investment companies, credit unions or any of their partners that collect and retain nonpublic personal data.
  • Penalty for noncompliance: Regulatory fines can be levied. CEOs and board members can be held personally liable.

HIPAA (Health Insurance Portability and Accountability Act)

  • Requirement: Protection of a patient’s medical records and other personal healthcare information.
  • Applies to: All companies that transmit healthcare information, including healthcare providers and healthcare benefit plans.
  • Penalty for noncompliance: Fines of $250,000 can be levied; criminal prosecution can occur and can result in jail time of up to 10 years.

Environmental regulations

Risks associates with environmental protection and hazardous waste arise primarily from two regulations:

  • RCRA (The Resource Conservation and Recovery Act): Regulates the use, transportation and disposal of hazardous wastes.
  • CERCLA (The Comprehensive Environmental Recovery, Compensation and Liability Act): Assigns liability for the cleanup of hazardous materials disposed of improperly.

  • Providing complete “Cradle to Grave” data eradication solutions, sound experience, industry best practices and resources to support you.

  • About An Industry Leader

    TechR2 is the only company in the industry that has earned a US patent for its Track-Contain-Destroy-Verify data security process, is OEM approved, upholds critical ISO certifications, and is recognized for compliance with GDPR, NIST and all governmental regulations concerning data destruction, including ISO 27001, ISO 14001, ISO 9001, and ISO 45001.

  • Why risk it? Get started today!
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