Complying with data storage and retention laws
As the world becomes increasingly digitalised, organisations are storing more and more data electronically, much of which is mission critical and essential to running their business. The integral nature of this data to the business world, as well as events such as the Enron debacle, led governments around the world to begin passing various pieces of legislation around the protection of electronically stored information. Compliance with legislation in this regard has forced organisations around the world to examine their data policies and adopt new guidelines for the retention, processing and destruction of electronic records and communication. One of the most notable regulations not only for the United States where this law was passed but for organisations around the world, particularly those is the financial sector, was Sarbanes-Oxley, or SOX.