The new tax reform program is not perfect, but it must be viewed in the context of a comprehensive tax reform plan. Tax reform is a continuous process, not a one-time event. As one proverb says, âTo get through the hardest journey, we need take only one step at a time, but we must keep on stepping.â
In October 2012, the MIA was granted authority to issue insurance fraud civil orders. Since 2013, the MIA has sanctioned over 104 individuals with committing insurance fraud in Maryland. Penalties totaling $371,750 have been issued and those individuals were also ordered to pay $126,411 in restitution.
The Violent Crime Control and Law Enforcement Act (1994) makes insurance fraud a federal crime when it affects interstate commerce. It provides, among other things, that people engaged in insurance on an interstate basis who knowingly make false statements or intentionally overvalue any aspect of their business with the intent to deceive can be fined or imprisoned for up to 15 years.