The laws in Costa Rica have forced companies providing data on natural persons and legal entities to plan new strategies.
Elfinancierocr.com reports that "the actions have occurred in response to the fact that on March 5 the deadline was reached for the reorganization of their operations to comply with the provisions of the Law on Protection of the individual against the processing of their personal data (Act 8968) ".
Equifax, a company that specializes in credit history and software development, has acquired the Costa Rican company Datum.
A press release from Equifax reads:
Datum collects, synthesizes and provides consumer credit data to banks, telecommunications companies and retail and insurance businesses throughout Costa Rica. The company’s headquarters are in central San Jose.
The partnership between the Executive Directorate of Revenue and the company Equifax, will mean that tax defaulters will be included in the credit bureau’s information.
This agreement will allow access by the financial system (private banks, finance companies, and cooperatives), to taxpayer’s debt information held with the Treasury.
"The measure of including tax debtors the credit bureau will help strengthen the credit analysis carried out by financial entities," said a source from the Honduran Association of Banking Institutions (AHIBA) ", according to an article in Elheraldo.hn