How Familiar are you with Document Destruction Regulations?

Fox Business's website posted an article today on the general lack of understanding amongst large businesses of federal and state level regulations regarding document destruction. According to a recent poll, 75 % of the executives questioned claimed they had a working knowledge of federal regulations, but only 30 % of them had a clue what FACTA was. Here's a brief excerpt from the article:

"Some companies will soon have to contend with a new set of FACTA mandates from the FTC. Effective Nov. 1, 2008, financial institutions and creditors must have a formal program for preventing identity theft. Commonly known as the Red Flag Regulations, these new guidelines require companies to identify and account for "red flags," defined by the FTC as "patterns, practices and specific forms of activity that indicate a possible risk of ID theft.""