Mendoza’s chamber of senators granted definitive sanction to the bill which incorporates article 44 quinquies to Law 5547 on consumer defense and that creates a legal instrument for parents and guardians to control their children’s financial movements in virtual wallets. In this way, it seeks to combat the access of minors to the betting platforms.
The initiative, promoted by Senator Félix Gonzálezmodifies the Consumer Defense Law and establishes the obligation, by the providers of financial services, to guarantee the access of adults responsible for the movements, consumption and investments made by their minor children through digital accounts.
The project, which had been modified and approved recently by the Lower House and that now passed to the Executive Power for its promulgation, It seeks to regulate the growing use of digital payment platforms by adolescents.
In this context, the new article establishes that, in cases where the consumption relationship includes as responsible for the account an adult, the platforms must allow unrestricted access to all information on consumption and money movements that are made from and to that account. Besides, The account closing option by the responsible adult should be enabledwithout the need for the intervention of the minor.
Senador Félix González
This, According to Senator González, it is especially relevant in the current context, where many virtual wallets allow access to betting games and other consumptions that could affect the psychophysical health of minors.
At the time of based his proposal, the legislator had pointed to the importance of recognizing the changes that the “platform of life” has already brought with them the new forms of addiction that have emerged in this digital environmentespecially consumption without substance, Like online bets.
It should be noted that the conditions of use of many wallets currently prevent parents or guardians from visualizing their children’s financial movements, or even closing the account, despite appearing as responsible. This situation raises a legal vacuum that the new norm comes to correct.
From the Senate they assured that the implementation of this law will represent a substantial change for financial services platforms, which must adapt their systems and privacy policies to meet the new requirements. In parallel, It will allow parents and guardians to exercise greater control and accompaniment about the use made by minors of digital resourcespromoting a safer, responsible and transparent environment in money management.
