Financial Information Act Concerns Employers

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

Thursday, May 10, 2012

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.

The leader also stressed the need to curb the excessive powers that the UAF would have, as this will prevent affecting the constitutional rights of Nicaraguans who would be threatened if the legal opinion becomes law, reported Laprensa.com.ni.

"What we have told the government technical team is that this can not be a unit to investigate all Nicaraguans, but it must investigate people who cause red flag alerts," said Aguerri.

More on this topic

Warnings in Panama Over Financial Fraud

April 2012

The Superintendency of Banks in Panama is keeping a list containing names of companies that are not authorized to perform private banking or trust activities.

Current investigations into the company Pronto Cash has brought to the fore the risk of financial fraud by companies which are not controlled by the Superintendency of Banks.

Panama Gets Ready for FATCA Compliance

August 2013

The Intergovernmental Agreement Model 1 is being prepared with the U.S. Treasury for the application of the Act on tax compliance for accounts held abroad.

"The Ministry of Economy and Finance (MEF) is working in conjunction with an external consultant for the purpose of preparing the negotiation strategy," noted an article in Panamaamerica.com.pa.

SICA Finances to be Scrutinized

January 2013

The government of Costa Rica suspects that SICA resources are being spent on salaries and consultants, and not fulfilling its corporate objectives.

Upon assuming the presidency Costa Rica pro tempore of the Central American Integration System (SICA), Foreign Minister Enrique Castillo commented on its resource management saying: "You ask for information on some of the monies that are being handled in the SICA, and there is none available. A few months ago we asked the Secretary General to inform us of how much the judges of the Court (Centroamericana de Justicia) earned. "

Library of Financial Information

October 2012

Information will be available on credit cards, secure electronic banking, savings accounts and debit cards, credit and guarantees, and related procedures.

A statement from the Costa Rican Banking Association (ABC) reads:

First Financial Virtual Library

Banking system launches new information tool for users

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