VOI and Mandatory Data Breach Notification Legislation up the ante in the need for document protection?
There's an ever increasing burden of responsibility on lawyers and conveyancers for the safe-keeping of property transaction files.
At the same time as Verification of Identity (VOI) regulations requires long-term retention of copies of more highly confidential information than has been required to be retained in the past, the federal government is set to strengthen privacy laws by requiring mandatory Data Breach Notification (DBN), and to increase penalties for breaches.
It would be a very unfortunate and potentially costly irony if the personal documents provided by a client to validate their identity and protect them from fraud were subsequently used to defraud or violate the client's privacy due to the records being lost, accessed without authorisation or stolen whilst in the care of the lawyer or conveyancer.
The client, regulators and the Privacy Commissioner are unlikely to accept as a defence "But we've always stored our records that way"
Storing closed files in the garage, open shelves in the office or self-storage (communal storage) are fraught with risk. Times have changed and so should the response to secure long-term file retention.
Read more here about these developments and FileSaver's services to assist with the secure long-term retention of legal files.
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