Comment by johannes1234321
9 days ago
Losing data is mostly(*) fine if you are a small business. If a major bank loses it's data it is a major problem as it may impact a huge number of customers and an existential way, when all money is "gone"
(*) From state's perspective there is still a problem: tax audits, bad if everybody avoids them by "accidental" data loss
As I said, a wide blast radius is a justification and banks are already regulated accordingly. A general obligation to keep financial records exists as well.