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To meet compliance requirements for Dropbox, which is a third-party cloud storage service, you should use Microsoft Cloud App Security (MCAS). Cloud App Security provides deep visibility, strong controls, and monitoring capabilities for cloud applications like Dropbox. By creating a DLP policy in Cloud App Security
Other Options:
B. Edit an existing retention label: This is used for data retention and deletion within Microsoft 365 services, but Dropbox is a third-party service, so retention labels wouldn’t apply.
C. Create a retention label: Like option B, retention labels are used within Microsoft services, not for third-party services like Dropbox.
D. Create a DLP policy that applies to devices: This would protect sensitive information on endpoint devices, but it’s not directly related to controlling data within Dropbox.