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Compliance Training Crucial for Financial Institutions in Chile

Financial institutions in Chile, regulated by the Comisión para el Mercado Financiero (CMF), must adhere to the Recopilación Actualizada de Normas 20-7 (RAN 20-7) when adopting Amazon Web Services (AWS) Cloud. The RAN 20-7 outlines specific contractual, operational, and technical requirements for financial institutions outsourcing Information Technology (IT) services to cloud providers.

To ensure compliance with these regulations, financial institutions must:

  • Understand the roles of AWS and customers in managing and securing their cloud environment
  • Familiarize themselves with regulatory requirements and guidance from the CMF
  • Adopt a Shared Responsibility Model that outlines specific responsibilities for both AWS and customers

AWS Security Features Simplify Compliance

By using AWS, financial institutions can benefit from:

  • A vast array of security controls that reduce the number of controls they need to maintain
  • Strengthened certification and compliance programs that reduce costs associated with maintaining and executing specific security requirements

NIST Cybersecurity Framework Alignment

AWS cloud services were validated by third-party testing based on NIST 800-53 controls, Revision 4, as well as additional FedRAMP requirements. This alignment ensures that AWS meets the highest standards of cybersecurity.

PCI DSS Compliance on AWS

This guide provides customers with sufficient information to plan and document their Payment Card Industry Data Security Standard (PCI DSS) compliance for their AWS workloads. This includes:

  • Selecting controls that meet specific PCI DSS 3.2.1 requirements
  • Planning evidence gathering
  • Explaining control implementation to their Qualified Security Assessor (QSA)

Common Privacy and Data Protection Considerations

This document provides information to assist customers in using AWS to store or process content containing personal data, considering common privacy and data protection concerns. It helps customers understand:

  • How AWS services operate, including security measures and encryption options
  • Common issues related to personal data processing and storage

AWS Compliance Quick Reference Guide

AWS offers numerous compliance- enabling features for regulated workloads in the cloud, providing a higher level of security at scale. Cloud-based compliance also offers:

  • Lower costs
  • Easier operations
  • Improved agility

Operational Resilience and Data Classification

This paper describes how AWS and customers achieve operational resilience using AWS services, as well as classification schemes for public and private organizations to leverage when moving data to the cloud.

Data Residency Policy Perspectives

This paper addresses concerns around in-country data residency policies, including:

  • Commercial, public sector, and economic impact
  • Recommendations for governments evaluating these policies

Risk and Compliance Integration

This document assists AWS customers with integrating AWS into their existing control framework, providing a basic approach to evaluating AWS controls and information on integrating control environments.

Security Audit Guidelines

These guidelines provide a systematic approach to reviewing and monitoring AWS resources for security best practices.