Financial Crime Definition in Costa Rica: A Growing Concern
A Staggering Amount of Financial Losses in Costa Rica
According to a report by the Judicial Investigation Agency (OIJ), a staggering 12 billion colones has been stolen from Costa Rican bank accounts so far this year, more than tripling the total amount stolen last year. This alarming trend is just one indicator of the growing problem of financial crime in Costa Rica.
The Impact of Financial Crime on Individuals and Companies
The OIJ’s “Data on Criminal Prevalence in Complaints for Social Engineering” report reveals a disturbing picture of financial crimes from 2017 to the first half of this year, with individuals and companies defrauded of a total of:
- 85.5 billion colones
- $53.7 million
- 65,100 euros
A Growing Problem: Cybercrime Targeting Banks
The data shows that 2021 was the worst year on record for economic damage, with losses totaling 27.3 billion colones. This surge has put the security of bank accounts in Costa Rica under severe threat, prompting calls for enhanced security measures and public awareness.
Combating Financial Crime: Regulatory Bodies and Individual Action
To combat this growing problem, Rocío Aguilar, head of the General Superintendence of Financial Entities (Sugef), is pushing for stricter regulations, including mandatory dual authentication systems for all digital banking services. This move aims to strengthen the country’s digital banking infrastructure against cyber fraud.
Experts recommend that customers using digital banking services take proactive steps to safeguard their accounts, such as:
- Installing reliable antivirus software
- Maintaining confidentiality of usernames and passwords
A Multi-Faceted Approach to Combat Financial Crime
The fight against financial crime in Costa Rica requires a multi-faceted approach, with regulatory bodies like Sugef working towards more robust security protocols and individual clients taking responsibility for securing their own digital banking. As the country grapples with this unprecedented wave of financial cybercrime, the need for enhanced cybersecurity measures has never been more critical.