The Importance of E-Waste Recycling for Financial Institutions

Many financial institutions may not realize the vicious cycle of open security threats if e-waste is not disposed of properly. With the advent of data leaks, the 20th century is proving to be increasingly unfriendly towards institutions that require special data security protocols. One important part of ensuring the safety of your company’s data is how end-of-life electronics are handled. Regular waste systems for non-recyclable trash do not take into consideration the difference between an important hard drive or a banana peel: they will both end up in a landfill. The one difference is that electronics will leak toxic waste into the surrounding environment with time. In fact, 53.6 million metric tons of e-waste was generated in 2019. (1) Additionally, having important electronic devices sent to a landfill opens up the possibility for data theft. According to the 2020 Cost of a Data Breach Report, 10% of malicious breaches were caused by a physical security compromise. (2) The average cost of these compromises is $4.36 million.

AIT Electronic Recycling has partnered with FordAV in an effort to disrupt this vicious cycle of open security threats on a nationwide scale. When searching for e-waste recycling services, it is really important to consider what features they offer as well as what scope they can cover geographically. AIT offers a selection of data destruction methods tailor-made to fit the needs of your team and institutional standards. Our logistics ensure that every piece of equipment is carefully accounted for and handled according to our customized plan for your team. It’s important to take into account all of your physical locations in need of e-waste recycling, so finding nationwide coverage can be critical to getting started with e-waste recycling. Fortunately, we are here to make this process simple for you and your team. Our partnership with FordAV is the gold standard for what e-waste recycling should be for a nationwide financial institution. Don’t let your data end up in a landfill! Request a quote on our website today!

Sources

  1. https://www.itu.int/en/ITU-D/Environment/Documents/Toolbox/GEM_2020_def.pdf (pg 23)
  2. https://securityintelligence.com/articles/data-breach-protection-physical-security/

 

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