The accident is not the deleting but the not having sufficient backups.
A lack of backups designed for “just such an occasion,” of course.
JP Morgan fined by SEC for deleting email records
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Re: JP Morgan fined by SEC for deleting email records
#52Everyone makes mistakes, it’s ok. Just try not to delete evidence next time.
Meanwhile, the government seems to have accidentally deleted its records of your tax payments for the past 12 years.
I'm sure you understand how that can happen.
Pay up.
Re: JP Morgan fined by SEC for deleting email records
#53What, like with a cloth?
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Re: JP Morgan fined by SEC for deleting email records
#54What, like with a cloth?
hahaha took a second.
Re: JP Morgan fined by SEC for deleting email records
#55I’ve made this kind of accident before. Within my first 6 months there was a massive internal investigation of someone entering the building without authorization, as they had made their own keycard. I had been asked to analyze a machine’s event log to see what happened, and on a Teams meeting with a dozen people proceeded to right click the event log and mistakenly hit clear, unconsciously accepting the dialogue box…
Out of curiosity, were you also the one who made the keycard?
Whoopsie I'm such a klutz ;P
Look, I didn't mean to do the espionage thingy, especially in public ¯\_(ツ)_/¯
Re: JP Morgan fined by SEC for deleting email records
#56I believe them
This, but unironically. When a law requires data to be retained for X time, risk-averse companies interpret this as an instruction to immediately delete said data as soon as time X passes, and use automated tools to this end. Sadly, these tools tend to be ad-hoc software written and maintained by internal teams, and thus about as buggy as you'd expect. I've worked in such places, and - in addition to all the other is…
Are there off-the-shelf solutions for legally mandated data retention and deletion? If not, who are the typical go-to players in this area?
Re: JP Morgan fined by SEC for deleting email records
#57> to a project where the company aimed to delete from its systems any older communications and documents that were no longer required to be retained. Literally no reason to do this but for this precise goal.
Storage costs are an excellent reason as someone else said. Another reason is security, less data sitting around to be leaked, either accidentally or purposely, the better. Another reason is privacy, less data sitting around that can be used against you.
Re: JP Morgan fined by SEC for deleting email records
#58$4 million is a day's trading I guess? Got away lightly by the sounds of it.
Re: JP Morgan fined by SEC for deleting email records
#59I believe them
I’ve been insinuating otherwise playfully in this thread.
But, it is unfortunately absolutely realistic that companies are throwing away data the moment they can justify it. Ironically, it’s not the ones we’d like to forget about us most.
Data retention is a liability as much as it is an asset, and it’s challenging regardless.
If you’re a large enough company you will eventually come to be frustrated by whatever policies you have (either they’re too conservative or too liberal). And understandably when you’ve been caught being shady enough, even an honest deletion will look shady.
Re: JP Morgan fined by SEC for deleting email records
#60If it weren't so depressing it'd be incredibly hilarious how blatant and open the corruption here is, as if anyone on planet earth is gonna buy this BS story. The fines for these types of accidents should be starting with the letter B and ending with illions, lets see how often these types of mistakes happen in the future afterwards.
Fines? You mean detention.