Ensuring that data retained for regulatory purposes can be retrieved is critical because financial systems often deal with sensitive and legally mandated data, such as financial transactions, customer records, and compliance-related information. Regulatory bodies may require organizations to maintain certain data for a specified period even after a system has been retired. Although A is important, it is often related to privacy and security. Sensitive is the most important in this context.
Financial systems often contain sensitive and confidential data. Properly sanitizing (or securely erasing) the media ensures that no residual data remains accessible, which is essential to prevent unauthorized access or data breaches.
Failing to sanitize media can lead to potential data leaks, legal liabilities, and reputational damage if the data is recovered and misused by unauthorized parties.
nsuring that data for regulatory purposes can be retrieved is important for compliance but does not address the security of the data that is no longer needed.
prioritizing data retention for regulatory purposes ensures legal compliance and facilitates future audits or inquiries. Organizations should have clear procedures to retrieve relevant data even after a system is retired
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