Without a data retention policy in place, data can become a huge liability for companies. Having a data retention policy helps ensure that businesses delete data that is no longer warranted, while retaining what is required or necessary – both incredibly important with stringent privacy laws on the rise. Class action litigation is increasing with respect to data security breaches, with laws such as the California Consumer Privacy Act (CCPA), which carries a private right of action with statutory damages. State attorney generals also could bring enforcement actions against companies for failing to adequately secure data when such failure results in a security breach.
