State launches check-cashing database to combat fraud

check cashing

The state’s Office of Financial Regulation went live Thursday with a new check cashing database aimed at fighting fraud.

Check cashing businesses now will have to enter a range of information on any check of $1,000 or more, or on anyone cashing more than $1,000 in checks per day, OFR spokeswoman Jamie Mongiovi said.

Identifying information, for instance, includes a copy of a photo ID, such as a driver’s license, and a thumbprint of the person cashing the check.

All licensed check cashers are required to use the database no later than Oct. 1, Mongiovi said.

The database is result of a law passed in 2013 to prevent financial fraud.

Veritec Solutions LLC designed, built and will maintain the database, according to records. It also built a database to regulate the state’s payday lending industry.

For details on the check cashing database, click here. For a copy of the law, click here.

Jim Rosica

Jim Rosica is the Tallahassee-based Senior Editor for Florida Politics. He previously was the Tampa Tribune’s statehouse reporter. Before that, he covered three legislative sessions in Florida for The Associated Press. Jim graduated from law school in 2009 after spending nearly a decade covering courts for the Tallahassee Democrat, including reporting on the 2000 presidential recount. He can be reached at [email protected].



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