The South Carolina Department of Insurance (SCDOI) has entered into a Memorandum of Understanding (MOU) with the South Carolina Law Enforcement Division (SLED) to transfer insurance fraud enforcement to the SCDOI.

Both agencies have also announced that the South Carolina General Assembly has approved $2 million in funding for the investigation and prosecution of insurance fraud as part of the budget for the 2021-2022 fiscal year.

This funding represents a 400% increase in anti-insurance fraud efforts compared to current levels, the SCDOI noted.

Under the MOU, the SCDOI will investigate and prosecute fraud in the insurance industry utilizing SLED agents. In addition, indictments will be presented to the South Carolina Attorney General’s Office for approval and the Attorney General retains prosecutorial authority.