INDECOPI FINE TO FINANCIAL ENTITY After allowing suspicious retreats for more than S/30,000 in consumer account and requires reimbursement

He INDECOPI It is a role of Financial Consumer Protection In relation to savings boxesensuring that they provide clear information about their services, avoiding abusive clauses in contracts and sanctioning unfair practices. In addition, it attends and resolves claims of customers when their rights are violated, promoting transparency and loyal competition in the financial sector.

In this context, the National Institute for the Defense of Competition and the Protection of Intellectual Property (INDECOPI) has imposed a Fine to the Huancayo box Due to his responsibility in the authorization of suspicious retreats that surpassed the S/ 30,000affecting a user who did not recognize these transactions. Next, the total amount of the fine filed by Indecopi and the reasons behind this sanction against Caja Huancayo is detailed.

Why Indecopi fined Huancayo Caja with more than S/62,000?

The Commission of the Regional Office of the INDECOPI In Huancayo imposed a sanction of 11.60 UITequivalent to S/62.060to the Municipal Savings and Credit Fund Huancayo SA, due to the authorization of unusual retreats for an amount greater than S/ 30,000 from the user’s account, without having applied the corresponding security protocols.

During the investigation, the commission determined that the financial entity did not adopt the necessary measures to prevent these irregular retreats, which occurred between October 22 and November 4, 2023. In addition, it was verified that the Huancayo box allowed consumption not recognized by the sum of S/ 132, which evidenced Failures in security mechanisms and consumer protection.

As a result, the commission of INDECOPI He concluded that the entity violated articles 18 and 19 of the Consumer Protection and Defense Codewhich establish the duty of suitability in the provision of financial services. Consequently, the application of the aforementioned fine was determined. Also, as a corrective measure, the commission ordered the Huancayo box that, within fifteen business days, counted from the day following the notification of the resolution, returns to the affected consumer the amount of S/ 30.720corresponding to the undue retreats made in your account.

What role does Indecopi play in relation to the service of savings boxes as a box Huancayo?

He National Institute for the Defense of Competition and Intellectual Property Protection (INDECOPI) has a key role in the protection of the rights of financial services consumers, including those offered by savings and credit boxes such as Caja Huancayo. Among the functions that Indecopi possesses in this service, are the following:

• Protection of financial consumer rights: Watch that savings banks provide clear and truthful information about interest rates, commissions and financial products conditions.
• Supervision of abusive clauses in contracts: verifies that credit or savings contracts do not include terms that harm the consumer, such as hidden charges or unilateral conditions.
• Attention and claims resolution: Users may file complaints against Indecopi if they consider that a savings box violated their rights.
• Sanction of bad commercial practices: it can fine entities that do not comply with what is promised in their financial services or that apply undue charges.

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