Banks are a major target for black-hat hackers. Not only do they have substantial financial resources, they also retain some of the most sensitive information about customers, so they must stay above the curve to remain secure.
Online security is just the start; if someone with enough skill gains direct, unlimited access to storage hardware, there’s virtually no way to stop data theft. To prevent this, banks need to have verifiable proof of hardware destruction by a certified e-waste recycler.
Old Storage Devices Are a Gold Mine for Criminals
Identity theft is shockingly common in recent times. The key reason it’s become so popular is because customer’s private data is kept on a tremendous number of devices that are connected to the internet, meaning anyone in the world with online access can attempt the theft. However, an increasingly troubling attack is to scavenge old hardware.
When a bank discards a storage device, it isn’t enough to delete the data – even a child could recover a massive trove of damaging info. The devices must be fully wiped using modern erasure algorithms, then physically destroyed. This could be done with a sledgehammer and time, but the best method is to use equipment specially designed for maximum damage.
Every Step Must Be Documented
Once a data breach has occurred, there’s going to be serious trouble for the organization. In some cases, banks may face major fines for failing to protect sensitive items, but in virtually all cases they will likely face expensive litigation.
This is where serialized destruction is so important. The process provides audit-ready inventory reporting, which can include
- Asset type
- Make, model and serial number of each asset
- Pictures of physically destroyed items
With an easy-to-follow path of destruction, an institution can prove not only good faith but adherence to maximum industry standards for data protection. However, many recycling companies use an older chain of custody method that may not withstand a security audit.
Choose a Recycler Who Uses Data Destruction Best Practices
TechWaste follows an IT Asset Management (ITAM) strategy that can help stop a lawsuit in its tracks with instant access to documentation of any individual item that’s been decommissioned. Plus, this paperwork trail is ideal for any audits required by local, state or federal regulations. Their guaranteed compliance means they have forensic proof of every step in the downstream chain.
Besides their commitment to ITAM procedures, TechWaste is also R2v3 certified and registered with the Department of Toxic Substance Control and EPA for responsible recycling. Their zero-landfill policy is a bragging point for organizations who wish to demonstrate a commitment to responsible environmental stewardship to their customers.
While all storage devices must be fully destroyed, other electronic assets can be reused, as they pose no risk whatsoever for sensitive data recovery. Reuse is far more ecologically beneficial than recycling, and, in some cases, old equipment can be sold, meaning a bank may actually make a profit by having a certified recycler remove their obsolescent electronics.
If all this seems complicated, it’s not. TechWaste has personal account representatives standing by to answer any questions regarding the audit-ready documentation, what can be recycled and if a business can see a fiscal return on its e-waste.
TechWaste Recycling directly services all of Southern California and provides pickup services to its facilities from nationwide locations. Visit TechWaste Recycling’s website at www.techwasterecycling.com to schedule a pickup that works for your convenience and schedule.
Learn more about TechWaste’s data destruction process here: Secure Data Destruction Services
Contact Info:
Richard Steffens
1940 E. Occidental street
Santa Ana, CA 92705
Phone: 866-637-8469
