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Argentina: Law 26637, measures for banks to protect their customers

FINANCIAL INSTITUTIONS
Establish the minimum security measures to be taken by institutions. Enforcement Authority.

B.O. 29/10/10
Sanctioned: 29/07/2010
Enacted in Fact: 28/10/2010

The Senate and Chamber of Deputies of the Argentine Nation meeting in Congress, etc. sanction with the force of Law:

ARTICLE 1 - The minimum security measures contained herein are mandatory for the purposes of this law for the entities listed in articles 1, 2 and 3 of Law No. 21,526, amending and supplementing.

- Publicidad -

ARTICLE 2 - The minimum security measures to be adopted by the entities are the following: a) They must have in the lines of boxes and ATMs a protection system with a sufficient level of reserve, which prevents the observation of third parties; b) Armored treasury (cement and steel) for hoarding of cash and / or securities of third parties and / or rental safes, underground or at level, separated from dividing walls, fireproof and violation by mechanical elements or oxy-hydro torch. It will have two doors, one of which must be equipped with a triple-metric lock; c) Inhibitors or signal blockers that make it impossible to use cell phones inside them, provided that they do not affect the rights of third parties outside the branch, or interfere with other security devices.

ARTICLE 3 - The Central Bank may require differentiated minimum security devices for branches depending on the number of stores.
The amount of differentiation will have to be adequate annually by the Central Bank.

ARTICLE 4 - The authority for the application of this law shall be the Central Bank of the Argentine Republic, which shall have a period of SIXTY (60) days to issue the regulatory rules that enable compliance with this law.

ARTICLE 5 - The implementing authority shall provide an annual report to the Bicameral Commission for the Supervision of Internal Security Organs and Activities of Article 33 of Law No. 24,059.

ARTICLE 6 - Communicate to the national Executive Power.

Source: Iurislex

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