Regulatory Alerts2012-04-17 | SGDB N° 016/2012Added · Updated
SGDB No. 016/2012: Minimum Operational Security Requirements for Electronic Payment Instruments
The Central Bank of Bolivia establishes mandatory minimum operational security standards for electronic fund transfer orders, mobile wallets, and payment cards. Financial entities must implement encrypted communication channels, robust two-factor authentication, and specific data retention and integrity protocols. For payment cards, the regulation mandates migration to the EMV chip standard, assigning liability for magnetic stripe transactions to acquirers or issuers based on terminal capabilities, and requires dynamic data authentication for offline operations.