Top 5 Business Documents To Shred

Top 5 Business Documents To Shred

Running a business involves a lot of documents and paper. Given the importance of data privacy the more the usage of documents and paper the more are the chances of data being compromised. In the current health scenario work from home has become the norm. Also with the increase in conducting business from home the conditions under which identity theft can be committed have also increased. As a business currently working from home it is prudent that you make arrangements to shred the below five documents that make identity theft easier.

The five documents that are needed to be shred while conducting your business from home are

Banking Transaction Statements

Statements received from the bank top the list. These include banking transactions, investments made in the bank such as fixed deposits receipts, mutual funds credit card statements, loan statements. Physical statements received from the bank pose a source of a data breach if fallen into wrong hands. To avoid this businesses can shred their statements post opting in for the e-version of these statements. The e-version can be signed up by the businesses providing a registered mail id to the bank. The bank would then send in the statement to the registered mail id. Businesses could also make use of online banking facilities to access their  statements online

Old Financial Statements

Old Financial statements appear second on our list. These documents are critical business information whose leakage could cost the business high if not shredded on time.   Old financial statements such as Previous tax returns, Insurance copies, Stock statements, Accounting statements are some important sources of data leakage for a business. Shredding them post digitizing these documents is the best option. Businesses can scan these documents and store them on their devices or cloud-based solutions such as the Google Drive or Office 365.

Employee Records 

Thirdly we have the Employee records. They are the most commonly used documents that are used for identity theft. Some of the commonly used employee records to be shredded immediately are Payslips, IdProofs and resumes, and previous employment records. Payslips are important employee information that needs to be shredded post digitizing. Payslips can be digitized by scanning them and sending them across to the employees through the mail, WhatsApp, and cloud-based solutions. The physical payslips can be provided on employee’s demand. Id Proofs –Copies of id proofs such as passport, driving license, residential proofs, of the resigned employees need to shred and those in the service should be scanned and stored on the common drive or on cloud 

Other Official Records

The fifth on the list are the physical copies of other official documents like Centrelink Statements, Medical Records, Travel documents, Cancelled Contracts. These documents contain official information such as name, ABN/ACN number, address, and respective officials’ names and details. If fallen into wrong hands this information can be misused. Also, these documents can be accessed digitally through emails and respective  Centrelink and respective state service online accounts.

Junk Mail

Junk mail appears last on our list. They usually contain fliers and mail that nobody reads. It can contain pre-approved loans and credit card approvals which can be misused. These emails need to be shredded immediately on receipt as they pose a huge data breach threat.

identity thief

At Aushshred we know the importance of data privacy. We suggest to our  customers which documents have to be shredded and shred them thus contributing to their data privacy maintenance. Given the current scenario, we shred our client’s documents in tune to the covid safe ways. We also provide a document destruction certificate post shredding thus ensuring that our client’s data remains safe and secure. For a secure and safe data shredding contact us at 1800 001 008.

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