ARGENTINA Law and Practice Contributed by: Santiago J. Mora, Nicolas Garfunkel, Milagros Caneda and May Steward, GPG Advisory Partners
12.3 Responsibility for Losses See 2.11 Implications of Additional, Non-Finan - cial Services Regulations . Additionally, if a fin - tech company fails to comply with the security measures required by the BCRA or CNV, such as implementing robust authentication systems, it could be held responsible for the losses suffered by customers due to security vulnerabilities.
someone. Fraud involves deception that causes financial loss to the victim. 12.2 Areas of Regulatory Focus Regulators are most closely focused on fraud involving the impersonation of users of finan - cial services in the payments sector. The BCRA issued regulation related to the enrolment of accounts and cards in wallets, including secu - rity measures and consent of users. In 2023, the BCRA issued regulation on cybersecurity, pro - viding for requirements for the onboarding of users, etc. See 2.11 Implications of Additional, Non-Financial Services Regulations .
29
CHAMBERS.COM
Powered by FlippingBook