Red Flag Rules and Current Privacy Legislation
What is the Red Flags Rule?
The new ‘Red Flags’ rule will help fight identity theft. What is the definition of an identity thief? The answer is someone who uses people’s identity information to open new accounts and misuse existing accounts, creating havoc for consumers and businesses.
The Federal Trade Commission (FTC), the federal bank regulatory agencies, and the National Credit Union Administration (NCUA) have issued regulations (the Red Flags Rule) requiring financial institutions and creditors to develop and implement written identity theft prevention programs, as part of the Fair and Accurate Credit Transactions Act (FACTA) of 2003.
By May 1, 2009, companies must provide for the identification, detection, and response to patterns, practices, or specific activities – known as “red flags” – that could indicate identity theft.
Who must comply?
- Financial Institutions: State or national bank, a state or federal savings & loan association, a mutual savings bank, a state or federal credit union, or any other entity that holds a “transaction account” belonging to a customer.
- Creditors: Any entity that regularly extends, renews, or continues credit, any entity that regularly arranges for the extension, renewal, or continuation of credit; or any assignee of an original creditor who is involved in the decision to extend, renew, or continue credit.
- Under the Red Flags Rule, financial institutions and creditors must develop a written program that identifies and detects the relevant warning signs of identity theft. The program must also describe appropriate responses that would prevent and mitigate the crime and detail a plan to update the program.
- The Red Flags Rule provides all financial institutions and creditors the opportunity to design and implement a program that is appropriate to their size and complexity, as well as the nature of their operations.
- As federal and state legislation tightens and affects not only financial and credit businesses across America, it is imperative that all organizations conduct due diligence and take appropriate measures to ensure end-of-lifecycle documentation is properly destroyed and recycled.
Source: Federal Trade Commission
A partner in compliance.
According to the law, when using an outsourced document destruction company, financial organizations must use due diligence in selecting, managing and monitoring the service provider to ensure consumers’ private information is protected. Proshred®’s INFORMATION DESTRUCTION AT YOUR DOOR provides one of the most secure, convenient, economical and environmentally conscious solutions for complying with the current Red Flags Rule.
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What Are People Saying About Proshred®
4.6
Steve M.
They are very professional. The drivers are very polite and friendly. They do not rush the service of on-site shredding. Had a new driver Nate. He just started with Proshred and was very knowledgeable. Thank you for a job well done.
Pat F.
We recently sold a business and had many boxes of papers to shred. Spoke with Mara in the a.m., by 3:30 all 30+ boxes were shredded. Everyone was pleasant to deal with. Thank you PROSHRED! Highly recommend!
Jay R.
Outstanding service from Lamont and Steven.
Today, Tuesday, 1/10/23, at 2:00 PM, I went to Pro Shred located in Elmsford to drop off two bags of papers. I was not aware that they did not accept cash or Apple Pay.
I am a first time customer, so I did not know the payment method. Met with Lamont, who explained they did not accept cash, however, he did look into the Apple Pay. This is when I met with Steven, who, like Lamont, spoke in a friendly and professional manner. Steven explained an alternative way, which I’d gladly accepted. Overall, the friendly and professional service I received from Steven in Lamont was exceptional. Thank you very much!
I was very pleased to know that they were NOT Dallas Cowboy fans!
Go Giants!
Jay Romano
Today, Tuesday, 1/10/23, at 2:00 PM, I went to Pro Shred located in Elmsford to drop off two bags of papers. I was not aware that they did not accept cash or Apple Pay.
I am a first time customer, so I did not know the payment method. Met with Lamont, who explained they did not accept cash, however, he did look into the Apple Pay. This is when I met with Steven, who, like Lamont, spoke in a friendly and professional manner. Steven explained an alternative way, which I’d gladly accepted. Overall, the friendly and professional service I received from Steven in Lamont was exceptional. Thank you very much!
I was very pleased to know that they were NOT Dallas Cowboy fans!
Go Giants!
Jay Romano
Amy G.
I had a very large shredding job with Pro Shred. From the time that they quoted the job through the end of the shredding process they were beyond professional, knowledgeable, and fair. I've dealt with a lot of shredding companies over the years. The industry seems to be filled with companies that do what I call a bait and switch. They quote you the job based on the number of boxes and then when they get to the site it changes to the amount of materials that fit in a large rolling garbage bin.
When contract a job I am very specific about wanting to be charged what I am quoted. Usually I can't even get past the quoting when other companies start saying they will do it by box and then start talking about bin size on the phone. Pro Shed and Tara who quoted the job, did not play any games with me. They quoted a box price and then honored the box price. Not only was Tara grear, but when the guys showed up to do the shredding, they were professional, friendly, confident, and hard-working. Everything went as planned straight through the payment. I would refer anyone to this company at any time, because I feel comfortable that they did a good job for me and would do a good job forgrade,
I needed a little more shredding done, a very small job, just a little residual from the big job at a later date, and they are handling that great as well. I spoke to the manager today about them coming out on Monday for the residual and told him how pleased I was with the service. Unfortunately I can't remember his name but he was so professional as well and I'm so glad that I deal with this company. Don't use anyone else use a class act. ProShred gets 5 starts in all categories.
When contract a job I am very specific about wanting to be charged what I am quoted. Usually I can't even get past the quoting when other companies start saying they will do it by box and then start talking about bin size on the phone. Pro Shed and Tara who quoted the job, did not play any games with me. They quoted a box price and then honored the box price. Not only was Tara grear, but when the guys showed up to do the shredding, they were professional, friendly, confident, and hard-working. Everything went as planned straight through the payment. I would refer anyone to this company at any time, because I feel comfortable that they did a good job for me and would do a good job forgrade,
I needed a little more shredding done, a very small job, just a little residual from the big job at a later date, and they are handling that great as well. I spoke to the manager today about them coming out on Monday for the residual and told him how pleased I was with the service. Unfortunately I can't remember his name but he was so professional as well and I'm so glad that I deal with this company. Don't use anyone else use a class act. ProShred gets 5 starts in all categories.
Kim D.
Thank you so much for all of your help and quality service. We couldn't be happier with the service we have received from you. Our contact Alicia Babin has been outstanding to work with. Highly recommend this company!
Robin R.
ProShred came highly recommended to me for a recent fundraising event. Now I can highly recommend them based on their excellent service, professionalism and assistance in helping with our event. Their personnel were excellent to work with and they gave us great guidance as we put our program together. Thanks to ProShred for a job well done.
Krista S.
Positive experience from beginning to end. I had a consultation and less than a week later Pro Shred was out at my company. Very courteous with their reminders and follow up. The guys were great - came in and introduced themselves, letting us know about the whole process, asking if we had any questions. Can't beat their customer service. And the price was unbeatable!
Aaron P.
Pro-Shred is the best thing since sliced bread, and a must for any work-from-home professional. Stop wasting time and money on those forever-jamming dusty and noisy paper shredders. Let Proshred deal with all.
Dave W.
ProShred is easy and inexpensive.
I have limited need for shredding services--every year or two, I need to shred some old credit card slips and bank statements and such. It is always very easy to load 8-10 boxes of stuff in the back of my station wagon, drive it over to ProShred and then unload it into a bin, pay the fee and I'm on my way. Easy peasy. The staff is aways friendly and cheerful; they will do my shredding for the foreseeable future.
I have limited need for shredding services--every year or two, I need to shred some old credit card slips and bank statements and such. It is always very easy to load 8-10 boxes of stuff in the back of my station wagon, drive it over to ProShred and then unload it into a bin, pay the fee and I'm on my way. Easy peasy. The staff is aways friendly and cheerful; they will do my shredding for the foreseeable future.
Rosanne Paluszewski F.
Excellent, timely and professional service. But, that's not all: this is a company that GIVES BACK to our communities - by being an active and supportive MEMBER of the Midstate Chamber of Commerce AND they also go above and beyond and host special COMMUNITY shredding events throughout the year, and some of those benefit charitable organizations. That deserves more than 5 stars...
Carol D.
The greatest company very pleasant customer service. Made my appointment,received a follow-up call with delivery time. I was given a 2 hour window and they arrived very early within that window. The two men who came were incredibly kind and very fast. I will recommend Proshred Security to everyone one. Thanks for putting my mind at ease when getting rid of my personal documents.
Elaine H.
Pro-Shred is the greatest thing ever, best $$$$ ever spent. The guy who shredded my documents was courteous, friendly and professional. Years of paper clutter was gone within minutes, as I stood and watched. Thank you Pro-Shred!