I Right to Be Forgotten

This appendix provides instructions on how to configure the Right to be Forgotten feature used in the OFSAA Data Foundation applications.

Right to be Forgotten is the task of dropping PII (Personally Identifiable Information) of a Data Subject for the given Party. The financial institution can drop PII for those Data Subjects who have exercised the Right to be Forgotten functionality. The Data Subjects may have made significant financial transactions, and (or) financial information may be required for regulatory or compliance reporting. Deleting the complete record that consists of PII may lead to issues in data reconciliation. In OFSAA, the PII data is replaced with randomized values, and therefore, the complete Data Subject record is retained. As a result, financial information is retained; however, the associated Party PII is removed permanently.