Shopping malls, supermarkets, pharmacies, banks and other organizations with a high flow of people or whose operations pose a risk to the safety of people and goods will have to make relevant operational changes within the framework of the entry into force of the Private Security Law in Chile, set for November 28.

If such entities fail to adapt to this regulatory compliance, they risk fines and sanctions that may reach up to 13,500 UTM and may even result in the closure or temporary or definitive closure of the establishment.

The new regulatory framework redefines the criteria for considering a company as an “obligated entity”, leaving behind the parameter of the daily amount of cash and establishing a qualitative criterion subject to the idea of risk generation for public safety. This change directly affects the design and implementation of Security Studies and Plans, as well as the specific security measures that each company’s operations will have to guarantee before the new governing and supervisory body.

“Many companies believe that they are still on time, or that they will be able to meet the new requirements with the security studies currently in force, but the truth is that they are already late, because waiting for the new exempt resolution that notifies them as an Obligated Entity subject to the new regulatory framework, will activate a procedure limited in time and with extremely short implementation deadlines, most likely requiring greater investment that may not be considered or underestimated within the budgets. This new regulatory compliance scenario requires planning, investments and decisions that cannot be made overnight”, warns Eduardo Hernandez, Legal & Compliance Manager of ALTO Chile.

One of the changes that has aroused most interest is the requirement that security guards for high-risk establishments must wear body cameras. Companies classified as high risk will have to implement private surveillance systems and have specialized personnel, which implies a complete reorganization of human resources and budget.

“It is not just a matter of complying with a new law, but of transforming the way in which private security is managed. This legal framework requires moving from a reactive logic to a preventive one, based on risk analysis,” emphasizes Hernández.

In addition, a growing concern is beginning to emerge in the sector: will it be feasible to effectively oversee compliance with the law from day one? The magnitude of the legal and institutional changes, together with the number of organizations affected, raises doubts about the State’s capacity for real supervision and oversight in the first months of implementation.

However, experts agree that this should not be an excuse for companies to postpone their adaptation, since the State is also betting on technology when it comes to supervision and oversight, which will allow for scalability sooner rather than later.

Source: TrendTic.