Companies who value privacy will prioritise the storage of confidential data regardless of whether it’s physically or digitally stored. A privacy breach can result in serious consequences, from loss of revenue to a degraded reputation. HIPAA regulations could entitle healthcare providers to heavy fines if they allow access to patient records to fall into the wrong hand. A similar scenario could occur with a trade secret that is discovered by the wrong hands could affect a company’s competitive edge.

It is an excellent idea to develop protocols that ensure the safe handling of sensitive information without compromising workflow efficiency. This includes requiring employees to put their files away after using their computers, log off them and secure their filing cabinets and office doors at the end of each day. When selecting and utilizing third-party service provider that handle confidential information, it’s essential to take into consideration security. Select a service provider that offers secure file sharing and collaboration, for example.

Encryption can be used to protect confidential information, both in digital and paper form. You should also shred paper documents that contain confidential information before disposing of them. Do not toss them in the trash or recycling bin. Criminals are able to search through these bins and discover confidential information.

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