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.
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."
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.
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. "
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