LatinNews Regional Monitor: Brazil & Southern Cone - 23 November 2018

* The International Monetary Fund (IMF) has recommended that Chile strengthens its capacity to detect and protect its financial sector against cyberattacks. In a report the IMF calls on the Chilean government to put more emphasis on supervising cybersecurity ‘in situ’ at some of its institutions by installing specialised cyber-security equipment in each of these. The IMF also calls for the Chilean regulators to issue new detailed guidelines on how to manage cyberattack risks. The recommendations come after Chile requested technical assistance from the IMF after a series of cyberattacks targeting its central bank (BCCH) and private financial institutions were registered in June. Finance Minister Felipe Larraín has said that the government will analyse the recommendations before sending a new financial sector cybersecurity bill to the national congress to address any identified weaknesses.

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