Costa Rica SUGEF mandates one-minute fraud alerts for bank customers

Costa Rica's financial regulator SUGEF issued a new regulation requiring banks to notify customers of money movements within one minute to strengthen fraud prevention and detection. The rule targets cyber fraud but implementation details and enforcement timelines remain unclear. This marks a notable regulatory shift in the region, potentially setting a precedent for other Central American jurisdictions.

AI disclosure: Model-written summary of the source, not a verified fact. Check the sources. How Mosaic works