Anti-Money Laundering/Counter Terrorism Financing (AML/CTF)
For international AML/CTF and financial services regulatory reasons, we are required to maintain certain information related to payments and beneficiaries for up to 5 years. This is a standard requirement for all payment firms and financial institutions.
AML/CTF supersedes GDPR, CCPA and other “right to be forgotten” privacy requests, for certain data points.
Otherwise, for example, someone could misuse a payment system or financial account to transfer or receive funds for the purpose of terrorist financing or money laundering.
How can I delete user information?
To delete user information from your Payment Rails account you should Archive the recipient.
What does disable recipient mean?
Disabling a recipient will keep them in your list of recipients but you will not be able to make payments to them.