Argentina: Adopted Communication A 6354 including data localisation requirement

On 3 November 2017, the Central Bank of Argentina (BCRA) adopted Communication A 6354 on Minimum requirements for management, implementation and control of risks related to information technology, information systems and associated resources for financial entities, including data localisation requirements. The Communication specifies the data that has to be stored within the country when financial institutions decentralise and outsource information technology services. In particular, financial entities have to store the original accounting books and records, files of the information delivered and the documents signed by the clients, debtors' files and documents and guarantees that support granted financing.