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NCJRS Abstract

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NCJ Number: 118877 Add to Shopping cart Find in a Library
Title: Public Hearing Report and Recommendations by the State of New Jersey Commission of Investigation on the Subversion by Organized Crime and Other Unscrupulous Elements of the Check Cashing Industry
Corporate Author: New Jersey Cmssn of Investigation
United States of America
Date Published: 1988
Page Count: 100
Sponsoring Agency: National Institute of Justice/
Rockville, MD 20849
NCJRS Photocopy Services
Rockville, MD 20849-6000
New Jersey Cmssn of Investigation
Trenton, NJ 08625
Sale Source: National Institute of Justice/
NCJRS paper reproduction
Box 6000, Dept F
Rockville, MD 20849
United States of America

NCJRS Photocopy Services
Box 6000
Rockville, MD 20849-6000
United States of America
Document: PDF
Type: Legislative Hearing/Committee Report
Language: English
Country: United States of America
Annotation: This report presents the findings and recommendations of the New Jersey Commission of Investigation regarding the unscrupulous use of the non-bank check cashing industry in New Jersey by organized crime and other parties with criminal intent.
Abstract: The investigation, which included 3 days of public hearings, confirmed that the New Jersey non-bank check cashing industry has been infiltrated, perverted, and abused for the benefit of various persons, groups, and entities involved in organized criminal activity or racketeering. This finding derives from both the commission's independent investigation and from the public hearings. At the public hearings, State banking officials testified on the regulatory problems pertinent to non-bank check cashing. Victims of unscrupulous check cashers also testified on excessive and unlawful fees, embezzlement, and bankruptcies. Testimony was also provided by certain check cashers whose enterprises have been infiltrated by organized crime figures to launder "dirty" money, finance loansharking, and evade income taxation. Thirteen recommendations are designed to protect the traditional, non-banking clientele of the check cashing industry, to improve the regulatory power of the State, and to criminalize certain activities so as to enhance law enforcement efforts against organized crime's incursion into the industry.
Main Term(s): Money laundering
Index Term(s): New Jersey; Organized crime investigation; Tax evasion
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