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Cybersecurity Framework for Financial Institutions in Peru

The Superintendence of Banking and Insurance (SBS) has outlined a comprehensive cybersecurity framework for financial institutions in Peru. The framework consists of four pillars that aim to develop specific regulations on cybersecurity, ensure organizational structures are enabled, and develop human resource capacity.

Pillar 1: Develop Specific Regulations on Cybersecurity

Objectives

  • To develop regulations and guidelines for cybersecurity as an extension of the integral risk management framework.
  • To evaluate the use of Malware Information Sharing Platform (MISP) and identify compatibility with its role.

Key Initiatives

  • Studying the Computer Security Incident Response Team (CSIRT) Services Framework to inform regulatory development.

Pillar 2: Ensure Organizational Structures are Enabled

Objectives

  • To integrate cybersecurity measures into risk management operations.
  • To establish an adequate organizational structure for effective management of cyber threats.

Key Initiatives

  • Developing functions such as:
    • Strategic information security planning
    • Information security management
    • Evaluating cybersecurity threats
    • Reporting cybersecurity incidents

Pillar 3: Ensure the Necessary Organizational Structures are Enabled

(Note: This pillar appears to be a duplicate of Pillar 2 and does not contain any additional information.)

Pillar 4: Ensure the Development of Human Resource Capacity

Objectives

  • To have the human resource capacity to anticipate, understand, and rapidly respond to cyber threats.

Key Initiatives

  • Developing ongoing training for SBS’s information systems and technology supervision teams.
  • Enhancing supervisory capacity to ensure effective management of cyber threats.