Scotiabank to Offer Property Fraud Alert

August 29, 2008

The infamous vulnerability of Costa Rica’s National Registry has led the Canadian-based Scotiabank to partner with Private Property Registry, a Costa Rican firm that monitors properties in the land registry for fraud.

“We, as financial advisers, want our clients to feel completely at ease when making the most important investment of their life, which is buying a house,” said Adriana Llorca, a products manager for Scotiabank.

Llorca said the service will be free for all clients with mortgage credit with the bank. In the future, she added, the bank plans on expanding the service to other clients.

PPR monitors properties daily for unauthorized activity, as well as researches the history of a property to confirm whether it is indeed being sold by the rightful owner (TT, Jan. 20).

Property fraud is one of the most lucrative and least investigated crimes in Costa Rica. Criminals cherry-pick properties from the National Registry and resell them to unsuspecting buyers.

–Leland Baxter-Neal

 

Facebook Comments

You may be interested

The Tico Times Weekly Digest: Oct. 15, 2018
Tico Times Weekly Digest
784 views
Tico Times Weekly Digest
784 views

The Tico Times Weekly Digest: Oct. 15, 2018

The Tico Times - October 15, 2018

In this week's episode of the Weekly Digest, a wrap-up of last week's heavy rains, plus more news from around…

Guatemala Fuego eruption is over: officials
Guatemala
850 views
Guatemala
850 views

Guatemala Fuego eruption is over: officials

AFP - October 15, 2018

The most recent eruption of Guatemala's Fuego volcano ended Saturday, an official source said, with locals escaping a repeat of June's…

October in Costa Rica: when the Caribbean comes a’callin’
Pic of the Day
1277 views
Pic of the Day
1277 views

October in Costa Rica: when the Caribbean comes a’callin’

The Tico Times - October 15, 2018

Costa Rica's Caribbean coast is famously exempt from many of the typical weather patterns in the rest of the country.…