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Corporate and director identity theft

Lynn LynchCompanies House

UK

3m 10485,000

175,000,000181 MILLION

151

298,000,000130,000,000169

100

Functions

Legislation

Types of corporate fraud

• Corporate identity theft – short firm• Company incorporated solely to commit fraud

• Move from paper to electronic fraud

Other fraud

• Telephone scams• VAT Registry scams• Job offers and Visa scams• Internet auctions and Bond site scams• Stealing electronic authorisation codes

Fraudulent filings at Companies House

• Registered office change with no company approval

• Appointments without consent• Company name change• Director’s address change• Internal company disputes – directors at war

Our position

• Registrar has no statutory authority to take direct action

• General responsibility under Proceeds of Crime Act

• ‘Good faith’ principle• Balance easy registration with fraud prevention

Fraud protection

• File electronically• ‘Monitor’• PROtected Online Filing (PROOF)

PROOF documents

• Appointments• Resignations• Change of officer details• Annual return• Change of registered office

PROOF documents

• 1.2 million companies use PROOF • But 100 fraudulent filings per month

Working with others

• City of London Police• Met Office• SOCA (Serious Organised Crime Agency)• Action Fraud

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