Explanation
Another form of physical destruction, shredding may be the most secure and cost-effective way to destroy electronic data in any media that contain hard drives or solid state drives and have reached their end-of-life.
It's also very effective for optical drives, smartphones, tablets, motherboards, thumb drives and credit card swipe devices, to name a few.
Shredding is a great way to destroy data if you have a large data enterprise center or a large stockpile of old hard drives and media that you want to destroy. It's very secure, fast and efficient. Shredding reduces electronic devices to pieces no larger than 2 millimeters. If you work in a high-security environment with high-security data, shredding should be your number one choice as it guarantees that all data is obliterated.
https://dataspan.com/blog/what-are-the-different-types-of-data-destruction-and-which-one-should-you-use/

Risk Transference refers to the shifting of the burden of loss for a risk to another party through legislation, contract, insurance or other means. https://www.bcmpedia.org/wiki/Risk_Transference