In the competitive retail market, in-store analytics helps retailers to better monitor and understand their customers while providing valuable information on the actual point-of-sale performance.
This type of analytics has become an indispensable part of the operational strategy of brick & mortar retail stores. Its benefits can also be reflected in other areas, such as marketing, merchandising, and fraud prevention.
Big data analytics is an effective solution for identifying behavioral patterns and establishing strategies to help detect and prevent fraud in various business sectors.
Most companies are not aware of the information they have and how to leverage, analyze and understand it, which can result in the loss of a large amount of potentially useful data by normalizing fraud and other criminal activities in their processes and make them difficult to prevent and detect.
In Costa Rica there has been an increase in reports of complaints about calls and emails in which data such as account numbers and passwords are requested, purportedly by financial institutions.
From a statement issued by the Central Bank:
The Central Bank of Costa Rica (BCCR) wishes to warn the general public about an increase in scams, both by telephone and e-mail, in which unscrupulous people pretend to be officials from this institution, with the purpose of obtaining data such as bank account numbers and access codes.
Aguilar Castillo Love is a leading international law firm with offices in Central America and Ecuador.
Organization that operates in Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua, Panama and Central America
Phone: (505) 2225 8748
The new charges of tax evasion against Aceros de Guatemala demonstrates how the cumbersome procedures for receiving tax returns foster dishonesty among officials and businessmen.
The Justice Department and the International Commission against Impunity in Guatemala have accused the company Aceros de Guatemala of committing tax fraud and customs fraud offenses, worth more than the $33 million, and which could be linked to the of customs fraud network dismantled a few months ago known as "The Line".
Growing institutional weakness in several countries of the isthmus brings to the forefront the responsibility of the business sector to keep the economy of this region moving forward.
EDITORIAL
Currently, the governments of several Central American countries are showing signs of weaknesses which - to different degrees- point to a sharp decline in institutional quality.
The dismantling of a network of corruption at the highest level in the Superintendency of Tax Administration has forced an analysis of the stability of the government of Otto Perez Molina.
Calderon raises three possible scenarios:
"...First scenario: precarious balance, which means continuing the current pace of deterioration in the political system and levels of governance, and at the same time assuming an increased fragmentation of the government bloc.
The dismantling of the network of corruption at the highest level of the taxation system shows the validity and the necessity that Central America has for having bodies such as the International Commission against Impunity in Guatemala.
EDITORIAL
Guatemalan business leaders have been talking about the matter, after the release of the CICIG updates which shed light on a group of criminals who, from the highest level of customs administration, engineered smuggling and tax fraud in the country. See: "Customs Fraud Network in Guatemala".
China Harbour Engineering Company, one of the bidders in the tender for Line 2 of the Panama Metro and a contractor for road works in Costa Rica, is ineligible to participate in projects financed by the World Bank.
Given the criticisms over its main involvement (60%) in one of the consortia which submitted bids for the construction of the Panama Metro Line 2, a spokesperson for China Harbour Engineering Company (CHEC) Latin America argued that "..
Iconi Holding and Intermarket are the companies that the Securities Regulator has warned not have support or supervision in the country.
The Superintendency of Securities (Sugeval) has updated the list of unsupervised and unregulated entities for which reports have been received of possible unauthorized securities offerings, which could even be fraudulent.
If successful, the bill being discussed in the Legislative Assembly of Costa Rica, will make shareholders of corporations liable in cases of fraud.
The Legal Affairs Committee has endorsed a bill entitled Lifting the Veil of the Legal Personality, to be discussed in the plenary of the Legislative Assembly. The initiative aims to reform the Code of Commerce so that shareholders of corporations will be held accountable for the acts of the company in the event of any breach or violation of rights.
The Superintendency of Companies has pointed to objective and known facts of illegal collection of money from the public by the operations of Emgoldex, which is also currently operating in Panama.
From a statement issued by the Superintendence of Companies of Colombia:
Superintendence ordered intervention of operations Emgoldex
in Colombia Bogota, May 12 (SS).
The urgent need for economic development in the region frequently makes everyone draw the attention to proposals that have dubious viability.
EDITORIAL
The Mexican company which announced the huge investment also announced, on a website under construction, the development of the port of Nanchital in Mexico, citing current concession rights which have actually been revoked.
The recent announcement of the construction of a Disney theme park in Costa Rica has been denied by the Disney Corporation itself.
EDITORIAL
The announcement by the mayor of the city of Liberia on a morning variety program was quickly replicated by various media outlets for a few hours after being denied not only by the Disney Corporation and by the supposed developer of the project, but even by the aforementioned mayor, who was not able to confirm the information.
Missing or false information encourages consumers who are defrauded, to be mislead, especially with regards to vacation plans.
Reports have been made of huge losses worldwide due to scams related to vacation plans due to lack of tourist information and false advertising.
More than 42 consumer protection agents in Africa, Asia, America, Europe and Oceania will meet at the Forum entitled 'Improving Consumer Protection in a Global Economy', which is taking place in Panama until October 11.
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