Does the GDPR Right to be Forgotten Apply to Backups?

The General Data Protection Regulation is now in effect, and it includes the right of erasure in Article 17, otherwise known as the right to be forgotten. One question on the minds of many people is whether or not this right applies to backups.

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GDPR and the Right of Consent
GDPR and the Right of Consent

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Why and How to Backup EC2 VMs
Why and How to Backup EC2 VMs