Regulatory Alerts2017-12-29 | 046 2017 SGDB EXTAdded · Updated
Circular Externa SGDB No. 046/2017: Minimum Operational Security Requirements for Electronic Payment Instruments
The Central Bank of Bolivia establishes minimum operational security requirements for electronic fund transfer orders, electronic cards, and mobile wallets, replacing Circular Externa SGDB No. 005/2016. Financial entities, payment service companies, ACCI S.A., and EDV S.A. must implement robust authentication mechanisms, including at least two-factor authentication for logins and transaction authorizations, and ensure data integrity, confidentiality, and non-repudiation. Specific mandates include the use of SSL/TLS protocols, EMV chip standards for card transactions, dynamic data authentication for offline operations, and mandatory user information campaigns regarding security practices.