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Florida’s New Fraud-Fighting Database Has More Benefits that People Realize.

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Florida Governor Rick Scott signed a new law changing the check-cashing business. It will offer state fraud investigators a new weapon in the fight against fraud. The law mandates that the check cashing stores check Florida’s new fraud-fighting database before cashing checks over $1,000. Check cashing operations must record and report:

  • payer
  • payee
  • cost billed
  • social security number
  • workers’ compensation insurance plan number (in case the check out made out to a company)

This database can cross-reference the Secretary of State’s database, allowing investigators to observe prospective fraudulent activity associated with workers’ compensation claims.

Florida’s New Fraud-Fighting Database.

Chief economic Officer Jeff Atwater generated this legislation through their workgroup. He knew the mission of evaluating the complicated scheme would need solid evidence. As well as possible federal oversight due to the nature of workers’ compensation insurance markets.” in many cases, authorities targeted several check-cashing stores capable of facilitating this particular crime. While there will still be fraudulent activity, Florida’s new fraud-fighting database is a game-changer. Experts say it will reduce fraud by 80%. It is because businesses must check the more significant dollar amounts, but it is still impressive. In addition, it keeps money off the streets that funds things like drugs and organized crime.

It is essential to people like us who reside in Florida. Besides helping prevent workman’s compensation fraud, it is good for the government to keep track of poverty-stricken individuals. Most people who use check-cashing businesses live month to month. The state can better allocate funds to social services and food banks by understanding where they live.

Big Brother is Always Watching.

Nobody wants to be on a list, yet here we are. We can pray that the state is not using this information for evil. However, that is about it. No longer will the state sit back and let con artists steal millions of dollars annually. Let us hope they can find money to improve those individuals’ lives. Living paycheck to paycheck is no way to live. That is not the American dream I grew up knowing.

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