Data retention policies [Mandatory]

• 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