Today's businesses are faced with more government regulation than ever, with many new laws designed to protect confidential customer information. These rules are strictly enforced to make sure your clients' personal, financial and medical information is secure. By properly storing safeguarding your digital files, Scan My Files can work with your business to ensure compliance with HIPAA, GLBA, FACTA and Sarbanes-Oxley laws. With our professional document digitization and archiving services and secure electronic document storage, we offer the right solutions to meet the needs of your business.
Perhaps the most widely known and tightly enforced privacy laws, HIPAA (The Health Insurance Portability and Accountability Act) requires all covered institutions to proactively safeguard any uniquely identifiable health and healthcare-related information.
Enacted in 1996, HIPAA was the first federal law to comprehensively address privacy in the healthcare industry. HIPAA covers all identifiable information or personal health information (PHI) that is transferred or maintained by a healthcare provider; protecting the information itself, rather than the record where it appears, so it affects both digital and printed evidence of this information.
The healthcare industry has long been at the forefront of innovation in technology, as evidenced by the growth of electronic medical records. These computerized records can take two forms: digital images from scanned, paper-based charts, or a paperless electronic medical record (EMR). HIPAA laws require that all paper or electronic medical records are kept private and secure at all times. Digital scanning, EMR records management and proper electronic storage is the key to maintaining a HIPAA-compliant practice.
The Gramm-Leach Bliley Act (GLBA) is also known as the Financial Services Modernization Act (1999), which allowed banking institutions, securities firms and insurance giants to consolidate their businesses. It also requires that these financial institutions ensure the privacy and security of their customer's personal information. Managed by the Federal Trade Commission (FTC), it is recommended that GLBA-compliant institutions take steps to keep this sensitive information from falling into the wrong hands. Recommended methods include digital document storage and electronic records storage.
Key GLBA regulations include the Financial Privacy Rule and the Safeguard Rule. By governing the collection and disclosure of personal financial information held by financial institutions, these regulations require all financial companies (including the institutions themselves and those who receive personal information from other financial institutions) to design, implement and maintain safeguards to protect customer data.
FACTA, the Fair and Accurate Credit Transaction Act of 2003, is a set of rules that require businesses to properly safeguard the personal information of employees and customers.
The crime of identity theft has grown to near epidemic proportion over recent years, and FACTA is intended primarily to help consumers fight against this crime. By implementing a series of provisions aimed at identity theft prevention and helping victims recover from the repercussions to their credit, FACTA places limits on information sharing adds new consumer rights to disclosure, and encourages the protection of and proper destruction of all personal customer data.
Often considered one of the most important business reform acts since 1934, Sarbanes-Oxley is a complex set of regulations designed to restore confidence in corporate America. The rules are designed to enforce corporate responsibility and accountability by granting the SEC increased regulatory control, imposing greater criminal or compensatory punishments on non-compliant businesses, and lengthening the statute of limitations.
By converting paper documents into digital files, managing them properly and ensuring secure access for retrieval; businesses are working to comply with the Sarbanes-Oxley Act. The IT industry is impacted by certain restrictions impacting data capture, storage, record retention and recording.