What is the penalty for providing false information during TICO registration?

Providing false information during TICO registration is taken very seriously due to the potential impact on consumer protection and industry integrity. The significant penalty of up to $50,000 and/or imprisonment reflects the severity with which regulatory bodies treat fraudulent practices. This high penalty underscores the importance of honesty and accuracy in the travel industry, which serves to protect consumers from misleading practices and ensures a level playing field for all businesses operating within the sector. The gravity of this consequence emphasizes that misinformation could have broad repercussions not only for individuals but for the industry as a whole, thereby maintaining trust and accountability among stakeholders.