Florida Office of Financial Regulation

Jacksonville Check Casher License Revoked

06/29/2017

For Immediate Release                               
June 29, 2017
 
Media Contacts:
Jamie Mongiovi (850) 410-9709
Katie Norris (850) 410-9826
Twitter: @FlFinancialReg
 
Jacksonville Check Casher License Revoked
 
Tallahassee, Fla. – The Florida Office of Financial Regulation announces a final order against King Food Mart of Jax, Inc., operating as King Food Mart, for violations of Chapter 560, Florida Statutes. The order imposes a fine of more than $50,000, and King Food Mart’s check cashing license has been revoked.
 
Commissioner Drew J. Breakspear said, “The Florida Office of Financial Regulation will continue efforts remove bad actors from Florida’s financial marketplace, keeping it safe for consumers and businesses that comply with Florida law. We are committed to ensuring Florida’s financial industry continues to be a vibrant place for economic growth. The OFR applauds and supports check cashers who comply with the law, providing vital services to Floridians.” 
 
The final order concluded that King Food Mart committed several violations of Chapter 560, Florida Statutes, including cashing multiple high-dollar checks without verifying the identity of the person cashing the check, in one case cashing a check in excess of $60,000, and failing to file suspicious activity reports on transactions that were suspicious in nature. Other violations included failing to file currency transaction reports on transactions that exceeded $10,000, and failing to secure a thumbprint of the person cashing the check for checks cashed of more than $1,000.
 
If you are a victim of financial fraud or to report suspicious activity, please file a complaint online at www.flofr.com, or by calling (850) 487-9687.   
 
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