SECOND INTERIM REPORT OF THE STATEWIDE GRAND JURY

We, the members of the Eighteenth Statewide Grand Jury have been called upon to examine, among other matters, allegations of money laundering and fraud within the money transmitter industry, in particular among check cashers. We have also reviewed the response of state officials charged with the duty of regulating this rapidly expanding industry. As a result of what we have learned, we make certain findings and recommendations.

As part of our investigation into these matters we have received testimony from investigators from the Florida Division of Insurance Fraud, the Florida Medicaid Fraud Control Unit, and state regulators that oversee licensed check cashing stores. We even heard from some of the individual check cashers and their customers accused or suspected of money laundering and fraud hoping to gain some insight into the activities we were being told about from their perspective. In addition, we had access to documents and reports from various state and federal agencies.