Court in Costa Rica orders bank to hand over information

Constitutional Court confirmed that banks in the country are obligated to provide their clients all information concerning their accounts.

Friday, August 15, 2008

The Court ordered the manager of the agency involved to "hand over the information requested from 30 January 2008 to the appellant, as soon as possible" after finding out that money had been taken from his account without his authorization. This includes all transactions in the accounts since they were opened, a list of the authorized signatures to make withdrawals, withdrawal slips, and video recording from the ATMs.

More on this topic

Guatemala: Access to Companies Banking Information

January 2017

In February a law comes into force authorizing the lifting of bank secrecy of companies and individuals with a court order at the request of tax authorities.

Banks are preparing for the entry into force of legislation in February, modifying their processes in order to respond more quickly to requests from the Superintendency of Tax Administration (SAT).

Guatemala: Access to Companies Banking Information

August 2016

In January 2017 a rule will come into effect which allows the lifting of bank secrecy by court order at the request of the Tax Administration.

Decree 37-2016 Law to strengthen fiscal transparency and governance for the SAT was published today in Diario de Centroamerica, along with the dates for when each of the amendments adopted in the reform becomes effective.

Financial Information Act Concerns Employers

May 2012

A bill that would infringe the privacy of information relating to citizens and business has risen alarms in the Superior Council of Private Enterprise.

The future Financial Analysis Unit (UAF in Spanish) would have excessive discretion to request information from public and private entities, said President of the Superior Council of Private Enterprise (COSEP), Jose Adan Aguerri.

Bank Details Without a Warrant

April 2012

Banks in Costa Rica must provide customer’s banking information directly to Costa Rican Drug Institute when requested by the office.

Financial institutions must provide people’s banking data to the Financial Intelligence Unit (FIU) on request, as prescribed by executive decree. The FIU is a department of the Costa Rican Drug Institute (ICD).

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