Redaction, Legislation and Compliance
Almost all documents created in organizations today are digital. Transferring documents electronically is commonplace and the ability to do so has generally made the way we conduct business more time and cost efficient. Electronic data transfer has come at a high price for some businesses however, who have discovered their documents are not necessarily taken at face value.
The ability to permanently hide data has become a hot topic in the light of compliance reporting, pending Privacy Act requests, and the need to retain sensitive competitive information.
Throughout the literature surrounding the introduction of greater compliance and accountability, it has become apparent that organizations need to plan for:
- The storage and retention of electronic data
- The reporting of financial/management activities
- Increased rights in relation to privacy disclosure
- Compliance and Legislation
Some countries have legislation that requires the responsible storage, handling and disclosure of electronic data. In those countries it is an offence to not have taken the prescribed steps to ensure adequate systems are in use. Penalties for non-compliance range from monetary sanctions to, at a federal level, criminal penalties
In complying with reporting obligations, it is possible that not all data contained in a document will be relevant. RapidRedact can be used to protect some sensitive information even in a compliance situation.
It is our intention to provide you with information to help you through this minefield. However, we do advise that each country has different privacy and compliance regulations, and that there is a wealth of information on the internet pertaining to this subject. We recommend that you contact appropriate experts in your region.
Please refer to the information links if you have any specific questions or require further information.
- Security
Considering that every document you send electronically shows changes & annotations and every email you send can divulge information, not just about the document but also about your company’s server, your information is clearly not secure. Applying RapidRedact before sending documents will reduce your company’s security risk.
Information Links
- Data Privacy
Privacy legislation is either pending or currently in force, in your country. Information must be provided from electronic documentation to satisfy requests, and within the rulings that apply to your country, you must comply. Not all information is subject to disclosure however. By using RapidRedact, confidential information pertaining to individuals or businesses can remain just that – confidential.
Information Links
- Financial Accountability for Business
Legislation has been introduced over the last two years in the wake of several high profile corporate bankruptcies. By legislating the accountabilities of a business, it is hoped to strengthen the regard and facilitate the use of good data systems.
Regular auditing, disclosure requirements and the creation of new federal crimes which could include fines or prison terms, form part of the Sarbanes-Oxley Act, for example.
RapidRedact offers protection for data that is not relevant to financial reporting requirements.
In adopting technology so readily we have acknowledged its use in the running of our businesses. In so doing we have left behind an age where a piece of paper could be taken at face value and a handshake marked “a deal”.
It was inevitable that laws would be required to govern the way we do business electronically, as for a time it seemed re-saving documents could assist the manipulation of facts to suit.
RapidRedact will keep your sensitive information private and confidential. It’s fast, easy to use and has been proven effective.
Click here to see how RapidRedact works.