What is a Data Retention Policy?

A data retention policy is a set of rules that ensure data is stored safely in accordance with North Carolina law. It outlines how data must be collected, stored, and disposed of, and governs who has access to the data. The policy outlines the necessary steps to make sure that data is kept secure while still making it available when needed. The policy applies to any company that collects, stores, and disposes of data, such as financial institutions, online stores, and healthcare organizations. It ensures that personal data is not kept for longer than necessary, and that the data is kept secure and encrypted. The policy also includes specific requirements for data backup and disaster recovery plans, such as regular backups and the use of redundant systems to reduce the risk of data loss. It also outlines the process for responding to security breaches, such as notifying customers and taking steps to fix the issue. Finally, the policy includes a list of acceptable data disposal methods, such as encryption, disk wiping, and physical destruction. This ensures that data is disposed of safely and in compliance with North Carolina law. In summary, a data retention policy is a set of rules that companies must follow in order to keep data secure and compliant with North Carolina law. It includes specific instructions regarding collecting, storing, and disposing of personal data in a secure manner, and outlines the process for responding to security breaches.

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