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CA Department of Insurance

Insurance Commissioner Dave Jones Partners with U.S. Treasury to Enhance Anti-Fraud Efforts

News: 2012 Press Release

For Release: May 2, 2012
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Insurance Commissioner Dave Jones Partners with U.S. Treasury to Enhance Anti-Fraud Efforts

California Insurance Commissioner Dave Jones announced today his signing of a Memorandum of Understanding (MOU) with the U.S. Treasury Department's Financial Crimes Enforcement Network (FinCEN) in order to coordinate and heighten efforts aimed at rooting out fraud and protecting consumers and the insurance industry from criminal acts. 

"I am pleased we can join with FinCEN in seeking to curb criminal activities that severely impact both consumers and insurers," Commissioner Jones said. "As we see on a regular basis, criminals will stop at nothing to gain the upper hand, but I am confident that this joint effort will do much to combat fraudulent activities."

The MOU, signed by FinCen's Director, Jim Freis, will allow for a more coordinated flow of critical information, between both agencies, that will go toward safeguarding both consumers and the insurance industry from illicit activities, including money laundering, fraud and other financial crimes.

"FinCEN has a solid record of working with State financial regulators, and California is a key partner for us" said Director Freis. "Our efforts with State insurance commissioners are intended to further build on the impressive results we have experienced and the mutual benefit we have received through our strong relationships at the State level."

Commissioner Jones with FinCEN Directory, Jim Freis, signing MOU in Sacramento, CA.
Insurance Commissioner Dave Jones with FinCen Director, Jim Freis, signing MOU in Sacramento, California.

For a high resolution copy of the photo, please contact Jayne Lucas. Photo credit: Jayne Lucas, Office of Insurance Commissioner Dave Jones.

The California Department of Insurance, established in 1868, is the largest consumer protection agency in California. Insurers collect $310 billion in premiums annually in California. Since 2011 the California Department of Insurance received more than 1,000,000 calls from consumers and helped recover over $469 million in claims and premiums. Please visit the Department of Insurance website at Non-media inquiries should be directed to the Consumer Hotline at 800.927.4357. Telecommunications Devices for the Deaf (TDD), please dial 800.482.4833.

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