Forced Landing: An Overview Of Chilean Legislation On Financial Cybersecurity - Finance and Banking - Mondaq Chile - Mondaq Business Briefing - Books and Journals - VLEX 746217469

Forced Landing: An Overview Of Chilean Legislation On Financial Cybersecurity

Author:Ms Paulina Silva and Lapostol José Pablo
Profession:Carey
 
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State of legislation and policy before the cyber attacks

Chile is a country that, at first glance, seems to have a fairly complete legislation on data protection. A few months ago, the protection of personal data was enshrined as a constitutional guarantee, complementing the guarantee of privacy and intimacy that already existed in the Constitution, which allows for a constitutional action when this guarantee is violated. Moreover, Chile has one of the first laws in Latin America concerning the processing of personal data, a law on computer crimes, and various regulatory bodies that regulate other matters of interest, like electronic signature, a special statute on health data and special provisions on consumer protection regarding electronic contracting.

Although it may seem that Chilean legislation is quite complete, however, when we look outside of the constitutional consecration, the normative bodies concerned with data processing and computer crime matters have become partially obsolete or outright unused because failures to update the framework. Of course, part of the reason for the phenomenon focuses on the constant evolution of information and communication technologies and the new demands posed by a connected world.

For this reason, the Government of Chile announced the implementation of the Digital Agenda 2020 ('the Digital Agenda'), in November 2015.

The Digital Agenda is intended to be the guide for the development and evolution of various issues related to information technologies in Chile. These initiatives relate to the rights for digital development, digital connectivity, digital government, digital economy and digital competences. Among the initiatives in the digital government section, it includes the update of the rules on the processing of personal data and on computer crimes.

Initiatives and key areas of development in cybersecurity regulation

The National Cybersecurity Policy and National Cyber Defense Policy

The elaboration of the National Cybersecurity Policy, which was officially published on 27 April 2017 and of the National Cyber Defense Policy, published on 9 March 2018 were the key steps taken in making the concern for the security of information a matter of national interest in Chile.

Both policies specify the concrete measures that Chile must take in these matters, in many occasions reaffirming the commitments established in the Digital Agenda, and in others, detailing new, specific obligations. However...

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