The practices and measures of various actors, education and information, and investment in infrastructure are key to promoting cybersecurity.
Digitalization has many positive aspects, but it also exposes us to the risk of cyberattack. In a world of multiplicity of data and in which it is increasingly easier to operate financially with a click, it is essential to implement policies and practices that strengthen information security.
The Argentine financial sector has been making significant progress in cybersecurity, implementing regulations and practices aligned with international policies and standards. However, this is a constantly evolving area with the ongoing challenge of adopting emerging technologies. Compared to developed countries, Argentina shows notable progress, but it is essential to maintain the pace of updating and adaptation in the face of new threats. This involves investments in secure infrastructure and financial education and training programs to ensure the protection of information in line with the highest global standards.
In regulatory matters in the country, The Central Bank of the Argentine Republic (BCRA) implemented key cybersecurity regulations for the financial sector. It established minimum requirements for the management and control of technology and information security risks, which establish parameters to strengthen cybersecurity and prevent fraud in digital financial services. Likewise, it determined Cybersecurity and Cyber Resilience guidelines that provide guidelines for financial entities to develop cybersecurity strategies according to their size and risk profile.
In any case, cybersecurity is consolidated thanks to the actions of various actors: Both banks and financial entities, as well as users, can take measures to protect the information.
Banks implement multi-factor authentication that requires various forms of verification to access accounts, increasing security. They also take measures such as data encryption, which is common practice to protect information both in transit and at rest, ensuring that only authorized parties can access it. They also use advanced systems to quickly detect and respond to suspicious activity. In that sense, they work with data analysis services companies that allow them to detect unusual patterns and potential threats to information security. These companies provide verification solutions that help identify and mitigate risks associated with fraud and identity theft.
Financial entities work together with different actors in the credit ecosystem, both governmental and private, to share information and promote best practices in cybersecurity.
Users can protect their financial information by using strong, unique passwords, enabling multi-factor authentication, and keeping devices and software up-to-date for security. It is important to be cautious with suspicious emails and avoid clicking on links or downloading files from unknown sources. Additionally, it is recommended that you regularly review account statements, monitoring transactions to detect unauthorized activity. There are innovative tools such as credit monitoring alerts, which allow you to receive notifications about changes or activities in your credit reports, facilitating early detection of possible fraud.
Although there is still a way to go, the measures that are being developed reflect a continuous commitment of all actors in the Argentine financial ecosystem to strengthen information security and protect both institutions and their clients. Being at the forefront of cybersecurity is essential in a framework of continuous technological progress.
Equifax Argentina ISO.
Source: Ambito
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