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A series of measures to increase the security of electronic transactions were issued by the Superintendency of Banks and Financial Institutions to these entities, following the most recent attacks that caused damage to the Chilean financial system. of the agenda to strengthen the management of cybersecurity that led the Superintendent Mario Farren Friday, July 27 was sent a letter to the CEOs of banks that issue cards and have their own wickets established in the country, with the aim of requesting the plans to be implemented for
The Superintendent required banks to adopt specific cybersecurity-related measures, which include the updating of the security systems. Based on the ATMs and the renewal of the cards, adding to the magnetic stripe, the chip
The letter sent indicates that the "Superintendency considers that it is of the highest importance that supervised banking entities operate with the highest security standards in all areas badociated with risk (cybersecurity) "
Given this above, they were responsible for reporting:
- (i) the project of integration of chip technology into the universe of credit and debit cards of each bank
- (ii) ) Plan to update the operating system of your ATM network; and
- (iii) Status of Implementation of the Requirements Established in Decree No. 222 for Automated Teller Machines
The letter includes an appendix on which the requested items are to be delivered. Finally, Superintendent Farren indicated that no one is immune to an electronic or digital attack, so he asked the banking sector to take the necessary steps to mitigate this risk, which should be accompanied by measures taken by all. sectors of the economy because the risk in cybersecurity is a joint task.
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