U.S. Treasury Department requiring check cashing businesses in Miami-Dade and Broward to go the extra mile

Posted by

In an attempt to crack down on cashing fraudulent tax returns, the U.S. Treasury is requiring check cashing businesses in Miami-Dade and Broward to take additional steps before cashing tax returns over $1,000. South Florida was described by a special agent in charge of IRS Criminal Investigation in the Miami Field Office as a “hotbed for ID theft and tax fraud,” with the highest rate per capita of identity theft incidents.

As a result, check cashing stores will have to take additional steps such as: copying customers’ identification, having their thumbprints on file, taking their digital photographs and obtaining their phone numbers, before cashing a tax refund check.

It is safe to say that there will be a heightened level of scrutiny on these businesses in the south Florida area. This includes Palm Beach County despite that fact that they have not been mandated to comply at this time. It is believed they will be required comply in the near future due to higher incidents of identify theft report in Palm Beach County as well.

If you own a check cashing business in the south Florida area, you are required to comply with the new requirements as of August 3rd. Our office is experienced in assisting businesses in implementing new mandates such as these. We would be happy to help protect your business and ensure you are complying with any new regulations.

U.S. Treasury Department requiring check cashing businesses in Miami-Dade and Broward to go the extra mile

Posted by

In an attempt to crack down on cashing fraudulent tax returns, the U.S. Treasury is requiring check cashing businesses in Miami-Dade and Broward to take additional steps before cashing tax returns over $1,000. South Florida was described by a special agent in charge of IRS Criminal Investigation in the Miami Field Office as a “hotbed for ID theft and tax fraud,” with the highest rate per capita of identity theft incidents.

As a result, check cashing stores will have to take additional steps such as: copying customers’ identification, having their thumbprints on file, taking their digital photographs and obtaining their phone numbers, before cashing a tax refund check.

It is safe to say that there will be a heightened level of scrutiny on these businesses in the south Florida area. This includes Palm Beach County despite that fact that they have not been mandated to comply at this time. It is believed they will be required comply in the near future due to higher incidents of identify theft report in Palm Beach County as well.

If you own a check cashing business in the south Florida area, you are required to comply with the new requirements as of August 3rd. Our office is experienced in assisting businesses in implementing new mandates such as these. We would be happy to help protect your business and ensure you are complying with any new regulations.

U.S. Treasury Department requiring check cashing businesses in Miami-Dade and Broward to go the extra mile

Posted by

In an attempt to crack down on cashing fraudulent tax returns, the U.S. Treasury is requiring check cashing businesses in Miami-Dade and Broward to take additional steps before cashing tax returns over $1,000. South Florida was described by a special agent in charge of IRS Criminal Investigation in the Miami Field Office as a “hotbed for ID theft and tax fraud,” with the highest rate per capita of identity theft incidents.

As a result, check cashing stores will have to take additional steps such as: copying customers’ identification, having their thumbprints on file, taking their digital photographs and obtaining their phone numbers, before cashing a tax refund check.

It is safe to say that there will be a heightened level of scrutiny on these businesses in the south Florida area. This includes Palm Beach County despite that fact that they have not been mandated to comply at this time. It is believed they will be required comply in the near future due to higher incidents of identify theft report in Palm Beach County as well.

If you own a check cashing business in the south Florida area, you are required to comply with the new requirements as of August 3rd. Our office is experienced in assisting businesses in implementing new mandates such as these. We would be happy to help protect your business and ensure you are complying with any new regulations.