Podcast
Questions and Answers
Retention refers to how much data a company can store on its servers
Retention refers to how much data a company can store on its servers
True
The European Union's Data Protection Regulation was enacted in June 2018
The European Union's Data Protection Regulation was enacted in June 2018
False
Companies must encrypt sensitive information when it enters their servers
Companies must encrypt sensitive information when it enters their servers
False
COPPA applies only to adult users of websites
COPPA applies only to adult users of websites
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Companies may need to implement automated systems to identify and delete unnecessary data at irregular intervals
Companies may need to implement automated systems to identify and delete unnecessary data at irregular intervals
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Hiring outside consultants is not a common practice for companies aiming to ensure compliance with privacy laws
Hiring outside consultants is not a common practice for companies aiming to ensure compliance with privacy laws
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Study Notes
Retention Limits
Retention refers to how much data a company can store on its servers without violating regulations, user privacy concerns, or legal requirements. It is also known as data retention policy. This document explains the existing retention rules for specific user information types as of June 15, 2022, and will likely update due to new legislation coming into effect soon.
The European Union's Data Protection Regulation was enacted in May 2018. Companies have been given two years to comply with the regulation. Under this law, companies must delete all personal data that they have acquired if it is deemed unnecessary for their ongoing business purposes. In addition to erasing personal data, companies must also encrypt sensitive information when it leaves their servers.
In the United States, the Children's Online Privacy Protection Act (COPPA) imposes strict guidelines on what can legally be done with children's online data. COPPA requires parental consent before collecting any personally identifiable data from users under 13 years old, including IP addresses, phone numbers, and full names. These strict rules only apply to child users; adults using these sites cannot expect anything like COPPA protection.
To ensure compliance with applicable law, companies may need to implement automated systems to identify and delete unnecessary data at regular intervals. They often hire outside consultants to audit their data practices and ensure compliance with various privacy laws.
It is important to note that data retention policies vary widely between industries. For example, financial services firms typically retain customer records for up to seven years after the customer relationship ends. Healthcare data frequently has long retention periods. A medical record might be retained for five years after a patient passes away.
Understanding the different retention limits across industries and countries can help organizations manage their data responsibly while staying compliant with regulatory requirements.
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Description
Learn about data retention limits, data protection regulations, and compliance requirements for companies storing user information. Explore how laws like the European Union's GDPR and the US COPPA impact data retention policies and practices.
