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AWS Enhances Compliance and Security for Financial Institutions in Chile

Santiago, Chile - Amazon Web Services (AWS) has announced a series of measures to enhance compliance and security for financial institutions in Chile.

Achieving PCI-DSS Level 1 Certification

AWS has achieved PCI-DSS Level 1 certification, providing customers with detailed information on the exact location of data centers within each AWS region. This achievement demonstrates the company’s commitment to ensuring the security and integrity of customer data.

Local Zones and Outposts for Enhanced Security

AWS offers Local Zones and Outposts, which enable financial institutions to analyze data latency and residency requirements while ensuring compliance with regulations. These services allow customers to deliver applications that require single-digit millisecond latency and comply with data localization requirements.

Incident Response and Security

  • AWS has implemented a formal incident response policy and program to respond to potential security threats in accordance with the AWS Shared Responsibility Model.
  • The company employs automated mechanisms for monitoring and controlling remote access methods, auditing systems and devices, and logging all remote administrative access attempts.
  • The AWS Security team reviews logs for unauthorized attempts or suspicious activity and initiates incident response procedures when necessary. Customers can review this information through the AWS Artifact portal, available under a non-disclosure agreement.

Business Continuity

AWS has developed a Business Continuity Plan (BCP) that outlines the process for responding to outages, from detection to deactivation. The company follows a three-phased approach:

  • Activation and Notification Phase: Detection of an outage, notification of affected teams, and initiation of recovery procedures.
  • Recovery Phase: Execution of recovery procedures, including data restoration and system restart.
  • Reconstitution Phase: Verification of system functionality and completion of post-outage activities.

Regulatory Compliance

The Chilean banking regulator, CMF, requires financial institutions to report operational incidents that affect business continuity or jeopardize the funds of customers. AWS has implemented measures to ensure compliance with this regulation, including:

  • Automated incident reporting
  • Permanent communication channel

Financial institutions can use tools such as AWS CloudTrail, Amazon CloudWatch, and AWS Config to track, monitor, analyze, and audit events. The company also maintains public notification security bulletins available in the AWS Security Center.

Conclusion

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AWS continues to demonstrate its commitment to compliance and security for financial institutions in Chile. By achieving PCI-DSS Level 1 certification and offering Local Zones and Outposts, the company provides customers with enhanced capabilities for data localization and latency analysis while ensuring regulatory compliance.