Federal authorities have issued tough new rules on check-cashing businesses in South Florida as part of the ongoing fight against rampant identity theft and tax fraud.
The Treasury Department’s order applies to federal tax refund checks over $1,000 in Miami-Dade and Broward counties. Customers attempting to cash them will undergo greater scrutiny: they’ll have to pose for a digital photograph, provide a thumbprint and give a telephone number.
The order will apply to check-cashing stores in the two South Florida counties from Aug. 3 through Jan. 30, 2016.
A typical scheme involves a tax refund fraudulently obtained through identity theft. Internal Revenue Service officials say the check is frequently cashed by a person using the stolen identity.
Authorities say South Florida is a national hotbed of these fraud schemes.
Was this article valuable?
Here are more articles you may enjoy.
US P/C Insurers Post Biggest Q1 Underwriting Profit in 25 Years 
WTW Sues Former Yacht Team, Howden US Over Defection 
Acrisure to Cut 2,250 Employees, Citing Advances in Technology and AI 
USI Insurance Services Claims Ex-Broker Poached Clients for Own New Agency 
