With the publication of the new cybersecurity law in the Official Gazette on April 8, Chile becomes the first country in Latin America to create a cutting-edge regulation.

This measure, implemented in the context of ensuring a secure digital environment, has as its fundamental objective the regulation of essential services and Operators of Vital Importance (OIV), which are fundamental to the functioning and quality of life of society.

The law defines essential services as those related to health, safety, energy supply, water, fuel, sanitary services, transportation, banking or financial services, among others. It also establishes the criteria for identifying OIVs, considering aspects such as the dependence on networks and information systems, as well as the significant impact that the affectation, interception, interruption or destruction of their services would have on public security and order, the continuous provision of essential services and the fulfillment of the State’s functions.

ANCI will have the power to classify as OIVs private institutions that, although they do not provide essential services, meet the established criteria and are critical for the supply of the population, the distribution of goods or the production of indispensable or strategic goods. It may also impose minor, serious and very serious sanctions, highlighting among the latter the failure to take timely measures to reduce the impact and spread of cybersecurity incidents or cyber attacks.

The enactment of this law underscores the importance of cybersecurity in Chile as a fundamental pillar for a secure economy and promotes digital entrepreneurship, among other benefits. This becomes especially relevant due to the increase and greater sophistication of digital crimes and cyber attacks in various areas, such as supply chains, public infrastructure and universities, which have affected the provision of services. It is therefore imperative to have robust legislation, policies and measures in place to address these new forms of crime.