Cybersecurity in Latin America

How well are Latin American banks protected against cyber attacks? Inter-American Dialogue’s Latin America Advisor asked Marcela Cristina Blanco, associate attorney in Diaz Reus’ Bogota, Colombia office, “How Well Do Latin American Banks Protect Against Cyber Attacks?” Latin America Advisor: More than half of Latin American financial institutions have experienced some type of electronic breach…

New Privacy Laws in India and China: A Barrier to Outsourcing

Indian Outsourcing operationsNew rules that significantly alter the privacy landscape in India and have profound implications for multinational companies outsourcing business to India or operating in India became effective April 13, 2011, when India introduced the Information Technology (Reasonable Security Practices and Procedures and Sensitive Personal Data or Information) Rules. Meanwhile as India inks and…

Setting up Your Business in Colombia

Colombia is the fourth largest country in South America. With substantial oil reserves and natural resources, Colombia provides an array of business opportunities for the knowledgeable foreign investor. Colombia’s efforts to improve current economic policy and democratic security have further increased investor confidence in Colombia’s economy and growing business sector. Colombian laws provide foreign investors…

The Growing Cost of Investing in China: A Shift in Strategy

Beginning December 1, 2010, foreign enterprises in China were required to pay “municipal maintenance and development taxes” and “educational taxes,” eliminating the last two tax exemptions that were previously accorded to foreign-invested companies. As a result, foreign invested companies enjoy no more tax benefits and bear the same tax burdens and obligations as their Chinese…

Enhanced Protection of Privacy to Change the Business Environment in China

When the Chinese legislature enacted a new criminal statute in 2009 penalizing unlawful acquisition and misappropriation of citizens’ private information, no one thought that the government would be serious in enforcing it. The reason was simple: privacy rights have not been fully defined in China, and unscrupulous exploitation of personal information, including sale and purchase…