PRESS RELEASE - ComplyCheck Launches Florida-Specific Compliance Module for Check Cashing Businesses

FOR IMMEDIATE RELEASE

ComplyCheck Launches Florida-Specific Compliance Module for Check Cashing Businesses

New Feature Helps MSBs Stay Ahead of Regulatory Enforcement Trends & Avoid Costly Violations

Deerfield Beach, FL – February 12, 2025 – ComplyCheck, a leading provider of compliance solutions for Money Services Businesses (MSBs), has announced the launch of a new compliance module designed specifically for check cashing businesses operating in Florida. This powerful new feature provides automated updates whenever there are changes to a corporate check cashing customer’s workers’ compensation policy—helping MSBs mitigate compliance risks, accurately determine check-cashing limits and proactively address regulatory scrutiny.

Florida’s financial regulators, particularly field examiners conducting audits under Florida Chapter 560 and Rule 69V-560, are expanding enforcement measures related to workers’ compensation requirements. This evolving regulatory landscape has resulted in enhanced violations, leading to costly fines, suspensions, and even license revocations for MSBs that fail to maintain proper documentation and oversight.

ComplyCheck’s new module provides:

Real-Time Updates – Automatic notifications when a corporate check-cashing customer’s workers’ compensation policy lapses, is canceled, or undergoes material changes. Regulatory Safeguards – Proactive tracking that helps Florida MSBs remain compliant with evolving state enforcement trends.

Audit-Ready Documentation – Easy access to workers’ compensation records to defend against potential regulatory penalties.

Enhanced Risk Management – Visibility into gaps that could trigger compliance violations, allowing businesses to take corrective action before an audit.

"Florida regulators are taking an aggressive stance on compliance violations, and MSBs are paying the price. Our new module ensures that check-cashing businesses stay informed, protected, and have the proper tools to be compliant with workers’ compensation requirements—before auditors flag them for violations," said Philip Laufman, Lead

Compliance Advisor at ComplyCheck. “We designed this tool to help Florida MSBs prevent unnecessary fines and safeguard their business operations.”

With the launch of this Florida-specific module, ComplyCheck continues to expand its compliance solutions, offering MSBs across the state a critical tool to navigate an increasingly stringent regulatory environment.

For more information about ComplyCheck and its compliance solutions, visit www.complycheck.co or contact Philip Laufman at request@complycheck.co or 754-222-4405.

About ComplyCheck

ComplyCheck is a trusted compliance technology provider for the Money Services Business (MSB) industry. The company specializes in delivering automated solutions that help MSBs manage risk, adhere to state and federal regulations, and maintain seamless compliance with evolving laws.