BoliviaLey de Servicios Financieros, Burós de Información
Ley No. 393 de Servicios Financieros, arts. 346, 348, 349 and 350 (Burós de Información)
In force.
A data brokers rule binding private bodies.
- Obligation class
- Security, Disclosure
- Audit expectation
- none
What it requires
- If you run a credit information bureau (buró de información) authorized by Bolivia's financial supervisor ASFI, take effective security and control measures at all times to prevent improper use or handling of the information you hold (Ley 393, Article 350).
- Do not solicit, collect or provide information for purposes other than your bureau business, and do not collect information from sources the supervisor's rules do not permit (Ley 393, Article 348(c) and (d)).
- Do not improperly alter, change on your own initiative or delete records in databases that come from ASFI or other authorized sources, and do not transfer to third parties, free or for a price, the information you receive from ASFI, except what relates to supplying information within your purpose (Ley 393, Article 348(e) and (f)).
- Give ASFI unrestricted, free access to all the information you manage, through access to your systems or periodic reports (Ley 393, Article 349).
These lines are LexLint's reading of the law's text.
What it makes you log
Logging duty
Articles 346 to 350 set out what a credit information bureau may collect and distribute, what it may not do, the security and control measures it must take, and the supervisor's access to the information it manages. They state no duty to keep a log or record of access to that information and no audit.
- Kind
- None
- As of
What this law does
Article 346 of Ley 393 lets credit information bureaus collect, store, consolidate and process information on natural and legal persons who are debtors of the financial system. Article 346 also lets credit information bureaus build databases and distribute processed information on economic, financial and commercial obligations, drawn from lawful public and private sources whose access is not restricted or reserved.
Article 348 bars a bureau from soliciting, collecting or providing information for purposes other than its business. Article 348 also bars a bureau from collecting information from sources the supervisor's rules do not permit. Article 348 further bars a bureau from transferring to third parties, free or for a price, the information it receives from ASFI, except what relates to supplying information within its purpose.
Article 349 gives ASFI unrestricted, free access to all the information a bureau manages. Article 350 requires a bureau to adopt effective security and control measures at all times to prevent improper use or handling of the information.
When LexLint raises it
When your app profile says your app processes personal data or provides financial services.
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