This page provides AWS financial institution customers with information about the legal and regulatory requirements in Colombia that may apply to their use of AWS services. 

Regulations

  • Yes. Financial institutions in Colombia are permitted to use cloud services, provided that they comply with applicable legal and regulatory requirements, such as those described below. 

  • The Superintendencia Financiera de Colombia or “SFC” (Financial Superintendence of Colombia) is the primary financial supervisory authority in Colombia responsible for the supplementary regulation (at the circular level), inspection and supervision of financial institutions, including banking and credit institutions, insurance, pension funds, capital markets, and certain payments processors.

    The Unidad de Regulación Financiera or “URF” (Financial Regulation Unit) is the governmental entity within the Ministry of Finance and Public Credit responsible for the core regulations (at the decree level) of financial institutions, including banking and credit institutions, insurance, pension funds, and capital markets.

  • Financial institutions in Colombia may be subject to a number of different legal and regulatory requirements when they use cloud services. Relevant regulations include:

    • Circular Externa 007 of June 5, 2018 (which amended the Legal Basic Circular 029 of 2014), establishes the minimum requirements for information security and cybersecurity management that financial institutions and other entities subject to the regulatory oversight of the SFC must adopt.
    • Circular Externa 005 of March 11, 2019 (which amended the Legal Basic Circular 029 of 2014), establishes the rules that financial institutions and other entities subject to the regulatory oversight of the SFC must follow when using cloud services to support material activities related to their corporate purpose or their financial and accounting management.

    Customers that have questions about the applicable regulations and guidelines, and how these may apply to their use of AWS services, can reach out to their account representative.

    Regulations are changing rapidly in this space, and AWS is working to help customers proactively respond to new rules and guidelines. AWS encourages its financial institutions customers to obtain appropriate advice on their compliance with all regulatory and legal requirements that are relevant to their business, and local regulations, guidelines and laws.

  • AWS is committed to offering customers a strong compliance framework and advanced tools and security measures that customers can use to evaluate meet, and demonstrate compliance with applicable legal and regulatory requirements.

    Financial institutions who are using or planning to use AWS services can take the following steps to better understand their compliance needs:

    1. Consider the purpose of the workload(s) under consideration and the relevant categories of data in order to anticipate which legal and regulatory requirements may apply.

    2. Assess the materiality or criticality of the relevant workload(s) in light of local requirements. For example, Circular Externa 005 of March 11, 2019 requires financial institutions to submit certain information to the SFC before moving certain material workloads and processes to the cloud.

    3. Review the AWS Shared Responsibility Model and map AWS responsibilities and customer responsibilities according to each AWS service that will be used. Customers can also use AWS Artifact to access AWS’s audit reports and conduct their assessment of the control responsibilities.

    Customers who have further questions about how AWS services can enable their security and compliance needs, or who would like more information, can contact their account representative.

  • Financial institutions in Colombia using AWS services should also consider applicable privacy requirements, including Colombia’s personal data protection law, Ley Estatutaria 1581 of 2012, as regulated by decree No. 1377/2013 and decree No. 1074/2015, as well as Ley Estatutaria 1266 of 2008.

    The AWS whitepaper, Using AWS in the Context of Common Privacy and Data Protection Considerations provides useful information to customers using AWS cloud services to store or process personal data.

Resources

  • General
  • Guía de Referencia Rápida sobre Seguridad y Conformidad de AWS

    Mediante el uso de AWS, se beneficia de la gran cantidad de controles de seguridad que utilizamos, lo que reduce el número de controles de seguridad que necesita mantener. Sus propios programas de certificación y conformidad se fortalecen, al mismo tiempo que se reduce el costo vinculado con el mantenimiento y la ejecución de sus requisitos de control de seguridad específicos.

    Marco de seguridad cibernética NIST. Alineación con el NIST CSF en la nube de AWS

    Los controles de seguridad 800-53 del Instituto Nacional de Normalización y Tecnología (NIST) pueden aplicarse de forma general a los sistemas de información federales de EE. UU. Los servicios y la infraestructura de la nube de AWS fueron validados por pruebas de terceros realizadas en función de los controles NIST 800-53 revisión 4, además de los requisitos adicionales de FedRAMP.

    Payment Card Industry Data Security Standard (PCI DSS) on AWS

    This guide provides customers with information to be able to plan for and document the Payment Card Industry Data Security Standard (PCI DSS) compliance of their AWS workloads. This includes the selection of controls that meet specific PCI DSS requirements, planning of evidence gathering to meet assessment testing procedures, and explaining their control implementation to their PCI Qualified Security Assessor (QSA).

    Using AWS in the Context of Common Privacy and Data Protection Considerations

    This document provides information to assist customers who want to use AWS to store or process content containing personal data, in the context of common privacy and data protection considerations. It will help customers understand the way AWS services operate, including how customers can address security and encrypt their content. The geographic locations where customers can choose to store content and other relevant considerations. The respective roles the customer and AWS each play in managing and securing content stored on AWS services.

    AWS Compliance Quick Reference Guide

    AWS has many compliance-enabling features that you can use for your regulated workloads in the AWS cloud. These features allow you to achieve a higher level of security at scale. Cloud-based compliance offers a lower cost of entry, easier operations, and improved agility by providing more oversight, security control, and central automation.

    AWS Operational Resilience

    The purpose of this paper is to describe how AWS and our customers in the financial services industry achieve operational resilience using AWS services.

    Data Classification and Secure Cloud Adoption

    This paper provides insight into classification schemes for public and private organizations to leverage when moving data to the cloud. It identifies practices and models currently implemented by global first movers and early adopters, examines how implementation of these schemes can simplify cloud adoption, and recommends practices to harmonize national requirements to internationally recognized standards and frameworks.

    AWS Policy Perspectives: Data Residency

    This paper addresses: The real and perceived security risks expressed by governments when they demand in-country data residency. Commercial, public sector, and economic impact of in-country data residency policies with a focus on government data. Considerations for governments to evaluate before enforcing requirements that can unintentionally limit public sector digital transformation goals leading to increased cybersecurity risk.

    AWS Risk and Compliance

    This document is intended to provide information to assist AWS customers with integrating AWS into their existing control framework supporting their IT environment. This document includes a basic approach to evaluating AWS controls and provides information to assist customers with integrating control environments. This document also addresses AWS-specific information around general cloud computing compliance questions.

    AWS Security Audit Guidelines

    Guidelines for systematically reviewing and monitoring your AWS resources for security best practices.

  • Compliance Programs

  • CSA

    ISO 27018

    ISO 9001

    GDPR

    ISO 27001

    PCI DSS Level 1

    ISO 27017

    SOC

Review requirements

We are continually adapting to evolving regulations. Check often for updates.

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