Sale of Personal Data Without Authorization Could Generate Fines of 2,000 Minimum Wage Units

Intellectual Property attorney Danilo Romero was cited in Asuntos Legales commenting on companies' obligations to protect personal data under Colombia's Law 1581 of 2012 in light of recent enforcement actions against Scotiabank Colpatria. The Superintendency of Industry and Commerce (SIC) can impose fines of up to 2,000 times the Colombian monthly minimum wage, suspend data processing for up to six months or order permanent closure for unauthorized sale or misuse of personal information. Criminal penalties under Article 269F of the Penal Code range from 48 to 96 months in prison, and civil liability may also arise. Mr. Romero shared recommendations for businesses that handle personal data.

"Companies must have a serious and applicable policy for the management of databases that contain personal and/or sensitive information of the customers involved," he emphasized.

READ: Sale of Personal Data Without Authorization Could Generate Fines of 2,000 Minimum Wage Units