The inherent qualities of paper documents have never lent themselves to conforming to uniform regulations. Paper documents:
- Have no audit trail based on access
- Can be revised at anytime with zero history
- Rely on labor intensive manual retention policies
- Succumb to manual retrieval, single point of access, misfiling and floating
- Have no inherent safety measures to restrict access
Historically, the compliance regulations relating to the handling of paper documents can be traced back to the Social Security Act of 1934. The U.S. Congress issued this act to make the disclosure of an individual’s personally identifiable information illegal. This act outlined procedural criteria for the management of stored documents such as:
- Accessibility audit trails
- Revision History
Today, these criteria are the foundation of every major article of compliance law such as:
- The Federal Rules of Civil Procedure (FRCP) governs e-discovery for legal proceedings.
- The Family Educational Rights and Privacy Act (FERPA) governs the privacy of student records.
- The Financial Modernization Act of 1999 or the Gramm-Leach-Bliley Act (GLBA) governs the collection, disclosure and protection of consumers’ nonpublic or personally identifiable information.
- The Health Insurance Portability and Accountability Act (HIPAA) governs the security and privacy of personally identifiable healthcare information.
- The No Child Left Behind Act (NCLB) governs the secure collecting, sharing and utilizing integrated educational data.
- The Payment Card Industry Data Security Standard (PCI DSS) governs the protection of credit card account information.
- The Securities Exchange Act of 1934 governs the storage and retrieval of securities industry records.
- The Sarbanes-Oxley Act of 2002 (Sarbox or SOX) governs the processing, storage and retrieval of corporate accounting documents.
The ramifications of neglecting these procedural criteria result in the imposition of fines and jail time. Discover how Document Mountain enables organizations to comply with each of the above.