Peru SBS expands penalties for banks

Updated Aug. 21, 2026: Peru’s Superintendency of Banking, Insurance and AFPs (SBS) also formalized changes to its sanctions regime through Resolution SBS No. 01923-2026. According to Baker Tilly Peru, the measure adds new violations, updates and removes outdated provisions, and expands coverage to banks, insurers, AFPs, mutual aid funds and benefit funds.

The Superintendency of Banking, Insurance and AFPs (SBS) also published a draft rule to bring four types of agricultural insurance into the simplified customer due diligence regime, while it continues to push changes in corporate governance, risk, consolidated supervision, Banking as a Service, open finance, artificial intelligence and customer service for banks and financial groups in Peru.

What changes in due diligence and agricultural insurance?

According to Agencia Andina, the proposal amends Circular No. S-661-2016 and is already posted on the SBS institutional website. The agency opened a comment period for the public and industry, which runs through Aug. 28, 2026.

At the same time, the superintendency has been adjusting other parts of the prudential framework. Mercurio Legal reported that Resolution SBS 01976-2026 amends the Corporate Governance and Comprehensive Risk Management Regulation for supervised entities, adds three new definitions, and requires companies to seek compatible risk management standards from other entities in the same group, based on their nature and complexity.

The official gazette added that the SBS strengthened consolidated supervision and aligned the framework with international standards through Resolution SBS No. 01959-2026. Under that approach, when the superintendency exercises consolidated supervision, the company responsible for submitting consolidated information must seek to ensure that group entities adopt practices consistent with the regulation, reinforcing alignment between parent companies and subsidiaries.

Mercurio Legal also said Resolution SBS 01976-2026 takes effect on July 1, 2027, giving companies in the financial system time to adapt their internal corporate governance and comprehensive risk management policies, including operational and cybersecurity risks within the management framework. Infobae Peru reported along the same lines that, starting in 2027, companies within the same financial group will no longer be able to operate under different risk rules and will have to align their internal policies with the new regime.

What changes does it introduce in technology, AI and new business models?

The tighter regulatory push also reaches the technology layer. Stakeholders Peru reported that the SBS approved a Banking as a Service regulation that redefines the technology partnership between banks and technology providers. Under that model, responsibility to customers and to the SBS always rests with the financial institution acting as the service provider, with oversight, technology risk management and compliance obligations for banks that integrate third-party digital solutions.

Hazlo Digital said the SBS plans to define the technological and regulatory foundations for Peru’s local open finance model between September and November 2026, with an initial pilot involving four supervised financial institutions.

That comes on top of the use of artificial intelligence tools inside supervision itself. El Peruano published a report on MonitorIA, a suptech tool from the SBS that uses artificial intelligence and advanced analytics to monitor market conduct management, process large volumes of information and detect risks in time to guide evidence-based supervisory actions.

The regulatory debate also intersects with Law No. 31814 on artificial intelligence systems. Gestión detailed that, under the regulation issued by DS 115-2025-PCM, regulated sectors, including the financial sector supervised by the SBS, can impose additional sanctions under their specific regimes if obligations on documentation, transparency, impact assessment and human oversight are not met for high-risk AI systems. The same coverage added that the general regime provides fines of up to S/ 535,000, suspension of AI operations and possible administrative, civil or criminal liability in cases of noncompliance.

On customer service, RPP Noticias reported that the SBS requires banks to issue free certificates for settled debts and to offer human assistance, not only bot-based support.

How is the supervision context for the financial system expanding?

Infobae Peru added that traditional performance reviews now include cybersecurity metrics, operational risk and technological response capacity, broadening the practical scope of supervision in the sector. In that same context, Stakeholders Peru placed approval of the BaaS regulation alongside the Central Reserve Bank of Peru’s (BCRP) progress on the TAPP platform as digital payments infrastructure.

Baker Tilly Peru added that Resolution SBS No. 01923-2026 also updates and removes outdated rules from the sanctions regime, in addition to adding new violations. The change expands its reach to banks, insurers, AFPs, mutual aid funds and benefit funds, extending the disciplinary perimeter the SBS applies across several types of financial and pension entities.