Costa Rican courts rule in favor of consumers in internet security cases

Two lawsuits against the Bank of Costa Rica, based on fraudulent transactions on the Web, ended with sentences against the bank.

Tuesday, October 14, 2008

The message sent by the courts to the business sector is clear: fulfill your duty to provide security or you will be responsible for any damages suffered by your clients, even though you are not directly responsible.

The court believes that the Bank created a lucrative service, Internet Banking, and did not put enough measures into place to minimize possible material loss by its clients when their accounts are hacked.

The legal basis, known as strict responsibility, has been applied in the country in cases of car theft from the parking lots of supermarkets and receipt theft in restaurants.

The Bank of Costa Rica case is the first time that it has been applied to banking transactions on the Internet.

More on this topic

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The changes include a prohibiting financial institutions from penalizing early repayment of loans.

According to an expert in consumer law, Jorge Eduardo Rooseess, this law is important because it "regulates all kinds of consumer relations with citizens, and because it appears that there is a willingness to provide the necessary force to an institution for it to defend consumer rights. "

Regulation of Defense and Consumer Protection Insurance

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The rights of Costa Rica insurance consumers to receive timely responses to any notice of a claim, complaint, reclamation or request filed with the insurers are to be preserved.

From the aims of the Rules of Defense and Consumer Protection Insurance

To define the minimum requirements to safeguard the rights of insurance consumers to receive a timely response to any notice of a claim, complaint, reclamation or request submitted to the entities as set out in Article 4 of the 8653 Act and sections 4 , 12, 48 of the contract Law Regulating the Insurance Act 8956 and the definition of the function and operation of an agency which protects the interests of the insured and the mechanisms for resolving disagreements with the insurance company for the execution of the insurance contract, which includes overseeing the process for making complaints in the event of a loss.

Law to Regulate Service Contracts in Guatemala

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Legislation to be presented to Congress will protect consumer rights in service contracts (for credit cards, phones, and cable, etc..).

Óscar Chinchilla, third vice president of the Congress, said, "The interesting thing about this regulation is that any breach of contract will mean the contract will become void so as to prevent companies from abusing the goodwill of the people who purchase goods or services."

US Supreme Court rules in favor of Costa Rican firm

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A US Supreme court decision has set an important precedent in disputes between Costa Rican firms and the foreign companies they represent.

The court rejected a certiorari, or revision, plea brought by Japan's Canon, which its being sued by its former representative in Costa Rica, Lantech.

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