5 Important Business Documents To Be Shredded By Businesses In Melbourne

Managing a business means the involvement of a lot of documents and paper.  The stability and the continuity of a business are dependent on how well its important data is protected. The more the usage of documents and paper the more are the chances of data being compromised. In the current health scenario with hybrid working becoming the norm the chances of business data going public increases. Also with the increase in conducting business in a hybrid model the conditions under which identity theft can be committed have also increased. As a business currently working in a hybrid model in Melbourne it is prudent that you make arrangements to shred the below five documents that make identity theft easier.

The five important documents that are to be shredded while running your business in Melbourne

  • Banking Transaction Statements- Bank statements are the most important of the documents to be shredded. These include banking transactions, investments made in the bank such as fixed deposits receipts, mutual funds credit card statements, loan statements. Statements received from the bank in the physical form pose a source of a data breach if fallen into wrong hands. Businesses can shred their statements post opting in for the e-version of these statements to avoid this. The electronic 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 should make use of online banking facilities to access their  statements online.
  • Previous Years Financial Statements- Previous years Financial statements appear second on our list. These documents are important business information. If this information is leaked it would be costly for the business 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 should scan these documents and store them on their devices or cloud-based solutions such as the Google Drive or Office 365.
  • On Roll Records –  Thirdly we have the onroll records. They are the most commonly used documents that are used for identity theft. Some of the commonly used on roll 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 
  • Non-Important Business Records- The fourth on the list are the physical copies of other official documents like Centrelink Statements, Medical Records, Travel documents, Cancelled Contracts. These documents contain business information such as name, ABN/ACN number, address, and respective officials’ names and details. If details are leaked this information can be misused. Also, these documents can be accessed digitally through emails and respective Centrelink and respective state service online accounts.
  • Spam Mail –  Spam mail appears last on our list. The junk mails are usually fliers and mail that nobody reads. It can contain pre-approved loans and credit card approvals which can be misused. These mails need to be shredded immediately on receipt as they pose a huge data breach threat.

 At Melbourne Shred we know the importance of data privacy. We suggest to our Melbourne customers which documents have to be shredded and which need not be shredded 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 secure and safe data shredding contact us at 1800 001 008.