With the aim of guaranteeing the right of users to the protection of their personal data held by private risk information centers and those provided by mobile digital wallet applications, Congressman Jose Luna presented a bill to regulate the processing of the data managed by these entities.
According to the explanatory memorandum of project No. 7919, “its implementation is expected to contribute to strengthening citizens’ confidence in the use of financial services and online payment apps” such as Yape, Plin, Tunki, among others. This proposal must be analyzed and studied in the Economy and Consumer Defense commissions during their ordinary sessions.
Plin, Yape and other digital wallets must protect user data, according to project
In our country there are more than 27 million users of popular digital wallets such as Yape, Plin, Tunki and others, according to data from the aforementioned institutions. However, crime uses these payment methods to carry out fraudulent activities such as phishing, identity theft or transaction manipulation.
Faced with this problem described in his bill No. 7919, which was presented last Wednesday, May 22, Congressman José Luna proposes regulating the processing of information held by private risk centers and digital wallets for the purpose of guarantee the protection of your personal data and preserve your privacy.
“Technical and administrative security measures must be issued to prevent unauthorized access to this information provided by these companies and protect the confidentiality of this information,” emphasized the Podemos parliamentarian.
According to article 4 of their proposal, these risk centers have the obligation to include protocols to safeguard the use of the data they manage, in coordination with the Superintendency of Banking, Insurance and AFP (SBS), and with the National Authority for the Protection of Personal information.
Likewise, financial entities that have the service of digital wallet mobile applications are prohibited from providing information that affects the processing of these personal and sensitive data of their users when they make online purchases, money transfers, or pay for services. or other operations.
Finally, article 6 of the bill indicates that these institutions “are obliged to include in their protocols for financial services and transactions carried out with digital wallets, alphanumeric codes so that sensitive consumer data is not violated.” .
What other changes does the bill propose?
According to the only final complementary provision of the bill presented by Congressman José Luna, the Executive Branch, in coordination with the National Authority for the Protection of Personal Data, will be responsible for approving the regulations of this standard within a period of no more than ninety days. from its entry into force.
In addition, a modification is established to paragraph 5 of article 2 of Law No. 29733, Personal Data Protection Law, referring to the definition of the term “sensitive data”, which will now be written as follows: “Sensitive data. Personal data consisting of biometric data that by themselves can identify the owner; national identity document, home address, workplace, landline or mobile telephone number, data referring to racial and ethnic origin; economic income, political, religious, philosophical or moral opinions or convictions; union membership; and information related to health or sexual life.
In this regard, the Podemos parliamentarian explained that the information that each user includes in their purchases is shared with third parties and could even be commercialized. “Without security and control measures, this information turns the user of the digital wallet into a potential victim of crime. These provisions do not mean a high cost for financial companies, but they will assume responsibility for protecting the information of its users,” he stated.
Source: Larepublica
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