Classify your data into categories based on factors such as sensitivity, importance, and compliance requirements. Different categories may have different retention periods
Define data retention policies based on the operational needs of the institutions, regulations and storage costs
Document data retention policies in detail. This should include information about the data categories, retention periods, triggers for retention start, and procedures for data deletion
Periodically review and update data retention policies to ensure they remain aligned with changing operational needs and evolving regulations
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