Florida Chief Financial Officer Jeff Atwater’s Money Service Business Workers’ Compensation Fraud Work Group ("Work Group") met on September 8, 2011. The meeting was facilitated by Ashley Mayer, Legislative Director for the Florida Department of Financial Services and Robin Westcott, Florida Insurance Consumer Advocate. The Work Group met to further discuss the relationship between perpetrators of workers’ compensation fraud and the money services businesses.
Pierce Schuessler, Legislative Director for the Florida Department of State, made a presentation on Florida legal requirements for forming a limited liability company or a corporation. Jay Kassess, Director of the Department of State’s Division of Corporations, pointed out that the Department of State’s functions are purely ministerial in nature, and that it does not have the manpower or the authority to verify whether a street address provided when filing for a corporation or a limited liability company is merely a mail drop or an actual business locations.
Miguel Fuentes with the Florida Carpenters Regional Council and Matthew Capece with the United Brotherhood of Carpenters and Joiners of America made a presentation that outlined the myths and realities of payroll fraud, how payroll fraud is perpetrated, and the impacts of fraud on legitimate businesses and communities in general.
Representatives of Dollar Financial Group, which does business in Florida as The Check Cashing Store, made a presentation that outlined the state and federal regulations with which the company must abide to conduct business. The presentation also highlighted their internal compliance programs.
In his presentation, Mike Ramsden, the Bureau Chief of the Florida Bureau of Money Transmitter Regulation within the Florida Office of Financial Regulation, highlighted what types of businesses are licensed under Chapter 560, F.S., and how those businesses are overseen by the Office of Financial Regulation.
The Work Group’s next meeting is scheduled for September 22, 2011.
To access meeting materials and presentations from the meeting, click here.