Costa Rica News – When it comes to Costa Rica there are many people that pray on others in order to scam their hard earned money out of them. This ranges from the Sweepstakes Scam , Real Estate Scams, Commodity Scams, and much more. Anything that can be used to steal money from others is pretty much being done here.
The biggest reason this happens in Costa Rica is an inept legal system that takes years and dollars to try a case. Most of these scam artists know how to play the system so they get away with it in the end. People will just give up after being frustrated fro so long and investing so much time and effort into trying to get their money back. On occasions they will see it returned but more times than not it is gone forever.
The latest one of these is in regards to people’s insurance policies and pensions.
The money people are paying could fall into the wrong hands if they do not check the legality of the intermediary that is offering these products.
Similar to the “commodity scams” operating in the stock market, there are people and companies that are offering policies and savings plans for retirement that are not valid in the country and not locally regulated.
They approach their potential customers remotely and are not as of this point traceable.
This makes those affected to have very few tools to defend their rights and get their money returned.
To avoid these scam, it is recommended people ensure that the policy or pension plan they are considering purchasing is allowed.
In Costa Rica only six pension fund operators can offer retirement plans: Pension BAC, BCR Pensions, BN Vital, CCSS OPC, Popular Pensions y Vida Plena.
In the case of the insurance policies, products can be offered by 10 companies licensed: INS, Seguros del Magisterio, Mapfre, Assa, Pan American Life, Adisa, Seguros Bolívar, Qualitas, BMI, y Atlantic Southern.
Watch out if you are being contacted by a person selling you one of these policies or plans. I recommend going to one of their offices and sitting down with them to purchase either a insurance policy or pension plan. There are a lot of people out there behind a computer screen and with a VOIP phone in Costa Rica trying to steal your money.