Florida Office of Financial Regulation

The Office of Financial Regulation (OFR) today announced that it issued warning letters, subpoenas and/or document requests to more than a dozen unlicensed check-cashing entities that advertised check-cashing services at their locations, including check cashing through the use of purported “self-service check-cashing machines.” [Read more…] about OFR Issues Warning Letter to Unlicensed Check Cashers

Since at least 2012, a “money transmitter” in Florida has been defined as “a corporation, limited liability company, limited liability partnership, or foreign entity qualified to do business in this state which receives currency, monetary value, or payment instruments for the purpose of transmitting the same by any means, including transmission by wire, facsimile, electronic transfer, courier, the internet, or through bill payment services or other businesses that facilitate such transfer within this country, or to or from this country.” [Read more…] about Industry Alert: Change in Money Transmission Definition

Recently, the insurance ratings agency, Demotech, Inc. (Demotech), which provides financial stability ratings of Florida property and casualty insurers, indicated that it may downgrade ratings for up to 17 Florida insurance carriers. [Read more…] about Industry Advisory: In Anticipation of Demotech’s Potential Insurer Downgrades

The Office of Financial Regulation (OFR) today announced that Owayne Anthony Bradbery was sentenced to five years in state prison to be followed by ten years of probation for his role in stock and real estate investment scams. [Read more…] about Delray Beach Man Sentenced to Five Years for Role in Securities and Real Estate Investment Scams

The Office of Financial Regulation (OFR) Commissioner Russell C. Weigel, III, offered the following statement on Governor DeSantis signing Florida House Bill 273 – Money Services Businesses. [Read more…] about Statement on the Signing of Cryptocurrency Legislation

The Office of Financial Regulation (OFR) today announced that Marko Dejanovic was arrested for his role in an alleged fraudulent investment scheme. [Read more…] about Miami Man Arrested for Role in Alleged Investment Scam

The Office of Financial Regulation (OFR) today announced that Sammie Sue Doss was arrested for her role in an alleged fraudulent advance fee for loan scheme. [Read more…] about Hendry County Loan Broker Arrested for Role in Alleged Fraudulent Advance Fee for Loan Scheme