Identity Theft and Corporate Fraud Increasing

For Immediate Release
Contact: Kelly Woodsum or Jason Mello
1-866-SHRED-44
jason@universalshredding.com
kelly@universalshredding.com

Almost 4,000 Massachusetts Residents Fell Victim in 2005

February 28, 2007, Georgetown, Mass.Ñ Identity Theft and corporate fraud are on the rise in the United States. In the year 2005, there were a total of 3,999 identity theft victims in Massachusetts alone and nearly 256,000 victims nationwide. The Federal Trade Commission reports that only one out of ever four victims notifies authorities and files reports. The total annual cost to identity theft victims was about $5 billion. About 300 million hours of time was spent resolving various problems, while the total loss to businesses approached $50 billion.

"Most people believe that the internet is the leading cause for the theft of personal information," said Jason Mello, president of Universal Shredding, LLC, an information security and document destruction company, offering both residential and corporate customers security with professional and personal document destruction. "However, 'dumpster diving'Ñwhere information is stolen from trash cans and landfillsÑ actually accounts for nearly 70% of all reported cases."

Ever-growing regulations, consumer demands for protection of personal information, and needs to protect corporate reputation make timely, secure shredding is an essential part of any personal or professional records management program. Private information isn't limited to bank statements and business contracts. Printed confidential materials are produced daily in every business and homeÑfrom credit card offers to cancelled checks, employee medical records to strategic planning documents. As the fastest-growing forms of fraud, identity theft and corporate espionage threaten to destroy personal credit ratings as well as business reputation and security.

"Hard copy records are created every day and come in various forms," Mello said. "Most people think that internet credit card theft is the most popular form of identity theft but really it's 'dumpster diving' where theft occurs from materials found in dumpsters or even your neighbors trash can. Whether it is employee related information, your personal bank statement, a credit card offer, a hand written memo about a client or a misprint, it will need to be properly destroyed."

The government currently mandates that all companies destroy any personal information on their customers, patients, employees, etc. Through HIPAA (Health Insurance Portability and Accountability Act), FACTA (Fair and Accurate Credit Transaction Act) and Gramm-Leach-Bliley Financial Modernization Act, the government is doing everything possible to help protect citizens; however, the best protection is eliminating personal risk.

Universal Shredding's onsite services includes state-of-the-art mobile shredding unit that utilize locked security bins and videotaped proof of destruction. All shredded material is then recycled. Companies are given locked Universal Shredding bins for weekly, bi-weekly or on call shredding. Homeowners can call for pickup and watch as their personal materials are shredded for yearly clean outs, etc.

About Universal Shredding, LLC

Universal Shredding, LLC is a local, family-owned and operated company that specializes in on-site document destruction. The Mello family has owned and operated G. Mello Disposal Corp., specializing in waste disposal and recycling services, for over 30 years. The philosophy of offering unparalleled service at competitive prices has been carried over to Universal Shredding. We offer on-site document and media destruction, as well as general recycling services. For more information on Universal Shredding, LLC, please go to www.universalshredding.com or call 1-877-SHRED-44 for a free brochure and quote.

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