A. M. With 57 votes in favor, the Legislative Assembly of El Salvador amended two articles of the Law Regulating Information Services on Individual Credit Histories, allowing data agencies to back up information in the cloud. This measure seeks to modernize the financial system, improve banking technology, and guarantee the continuity of services in the event of any eventuality.
The reforms applied to paragraph “n” of Article 17 and section “h” of Article 19 of the regulations. The legislators explained that migrating data to the cloud will allow for more efficient and secure management of citizens’ credit histories, while also adapting to international standards.
The new storage system will include security measures such as access control, authentication, secure password management, and data encryption. In addition, a constant monitoring and auditing system will be established to detect any improper or anomalous use of information.
Representative Dania González explained that the reform seeks to strengthen the protection of personal data and does not, under any circumstances, imply the commercialization or dissemination of stored information. She emphasized that the objective is to protect and guarantee responsible and transparent access to information.
One of the most significant benefits is the ability of agencies to immediately recover data in the event of natural disasters or technical failures, thus ensuring the continuity of service without loss of information.
The Banco Central de Reserva and the Superintendencia del Sistema Financiero will be responsible for overseeing this process. A Standards Committee will also be responsible for issuing technical guidelines to ensure compliance with cybersecurity and data protection standards.
