Backups are a legal requirement.
A company is required by law to keep backups, depending on the nature of the data, between three to thirty years. There are more than twenty-one laws that require the retention of records – non-compliance results in legal liability. The services that Backup Storage Facilities renders are the only way to be 100% sure that your company’s electronic records are kept safely.
There are many reasons why electronic records have to be kept:
A company is required by law to keep backups, depending on the nature of the data, between three to thirty years. There are more than twenty-one laws that require the retention of records – non-compliance results in legal liability. The services that Backup Storage Facilities renders are the only way to be 100% sure that your company’s electronic records are kept safely.
There are many reasons why electronic records have to be kept:
- Operational reasons
- General retention laws
- Industry specific retention laws
- The Directors and IT managers may be held personally liable for failing to comply with these laws:
- Companies Act – Section 424
- Companies Act Income Tax Act Labour Legislation FICA, FAIS
King II Report
Non compliance can lead to criminal fines as high as R10 million or up to ten years imprisonment for failure to retain records.
In terms of risk management, the services that Backup Storage Facilities offers can play a vital role in your company’s disaster recovery plan. A Disaster Recovery Plan is a set of procedures that will ensure that a specific essential function will become operational within an agreed time frame once the need arises in order to ensure business continuity.
Non compliance can lead to criminal fines as high as R10 million or up to ten years imprisonment for failure to retain records.
In terms of risk management, the services that Backup Storage Facilities offers can play a vital role in your company’s disaster recovery plan. A Disaster Recovery Plan is a set of procedures that will ensure that a specific essential function will become operational within an agreed time frame once the need arises in order to ensure business continuity.