Financial Crime World

Argentina’s Approach to Cybersecurity: A Sector-by-Sector Analysis

As Argentina faces the increasing threat of cyberattacks, the country is adopting a sector-by-sector approach to ensure the security of its critical infrastructure and data.

The Country’s Commitment to Cybersecurity

  • Argentina is a full member of the Wassenaar Arrangement on Export Controls for Conventional Weapons and Dual-Use Goods and Technologies.
  • The country has updated its list of technologies subject to transfer control, including an Annex on “Equipment, Software and Technology of the Missile Technology Control Regime” and a “List of Facilities and Equipment for the Manufacture of Dual-Use Chemical Substances and Associated Technology and Computer Systems”.
  • Several resolutions have been issued updating materials and technologies subject to export controls.

Sector-by-Sector Approach

Telecommunications Sector

  • There are no specific legal requirements regarding cybersecurity for ICT service licensees, but there are rules aimed at protecting information security and the security of ICT systems.
  • ENACOM has issued non-binding rules aimed at guaranteeing the responsible use of technology to prevent cybercrimes or risky practices of information technologies such as cyberbullying, phishing, and digital scams.

Sanitary Regulatory Sector

  • The healthcare industry is subject to strict regulations regarding information security.
  • Clinical pharmacology studies require safeguarding participants’ data, while healthcare institutions must comply with standards for managing patients’ health data in medical records or digitally prescribing medicines.
  • The Ministry of Health has issued regulations on telemedicine, which require technology used in the practice to comply with standards for health information systems and security and cybersecurity protocols.

Financial Sector

  • Argentina’s central bank, BCRA, has issued regulations on cybersecurity applicable to regulated entities, particularly financial institutions, financial market infrastructures, and payment service providers that offer payment accounts.
  • The BCRA has updated its rules on “Management of Cybersecurity Risks” in March 2023.

Expert Opinions

  • Maria Rodriguez, a cybersecurity expert at the University of Buenos Aires, believes that Argentina’s sector-by-sector approach is a positive step towards ensuring the security of its critical infrastructure and data. “By targeting specific sectors, Argentina can tailor its regulations to address the unique cybersecurity risks faced by each industry.”
  • Juan Sanchez, a cybersecurity expert at the Argentine Institute of Cybersecurity, expresses concerns that Argentina’s regulatory framework may not be robust enough to effectively protect against cyber threats. “While Argentina has made progress in developing its cybersecurity regulations, more needs to be done to ensure that these regulations are enforced and effective.”

Conclusion

Argentina’s approach to cybersecurity is a complex issue that requires careful consideration on a case-by-case basis to see whether any transfer control applies. As the country continues to grapple with the growing threat of cyberattacks, it will be important for policymakers and industry leaders to work together to ensure the security of Argentina’s critical infrastructure and data.