Intelligent CIO LATAM Issue 11 - Page 46

CIO OPINION
Latin American companies have an alternative to validate and perfect the operation of their digital signatures .
increase because COVID-19 has changed the way companies do business . Many were unprepared for the cybersecurity challenges of remote work .
In addition , we must define the difference between digital signatures and electronic signatures . Electronic signatures refer to any signature that is applied electronically . But that is really all they are : Just a signature , which is not legally binding .
However , when combining an electronic signature with a trusted digital ID , the result is a digital signature that is legally binding . That is the best way to sign critical paperwork such as contracts and payments without any extra work . Everyone can benefit from replacing slow paper workflows with secure digital signatures , from human resources to finance departments , legal teams and sales .
The countries where the use of digital signatures and electronic signatures are more advanced are Argentina , Bolivia , Brazil , Colombia , Chile , Peru and Mexico .
• Argentina was one of the pioneers in the implementation and regulation of electronic signatures by approving the Digital Signature Law 25,506 in 2001 .
• In Bolivia , the Law 080 of 2007 ( Law of Documents , Signatures and Electronic Commerce ) recognizes the legal and probative value of contracts or legal acts through electronic means .
• In Colombia , electronic signatures are regulated by Law 527 of 1999 . It is already a mandatory security standard in electronic invoicing .
• In Peru , the legislation establishes a clear differentiation between the electronic signature and the digital signature , both included in Law 27,269 .
• In Mexico , the Advanced Electronic Signature Law of 2012 regulates the use of the technological tool and the issuance of digital certificates .
However , companies need to know how to transit to digital signatures to speed up their transition and thus improve the reliability and security of their documents . Therefore , Latin American companies have an alternative to validate and perfect the operation of their digital signatures . p
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