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Presentation
Overview of Companies House Fraud facts and Figures Current Work Prevention Future Actions Questions
Our vision
… is to excel as a registration authority and source of public information, for the benefit of the UK economy.
Companies House
Our role: we are a registry we receive documents as laid down in the CA, and we make them available to the public We help companies comply Chase and prosecute when they don’t
Our role is not: to tackle corporate malpractice to make judgements on
company information to promote limited companies
Fully Electronic Operation Readily and freely accessible information A cost efficient, reliable and up-to-date registry Satisfied customers who want to use our products Act with others in government to benefit companies
and business Skilled and committed staff who enjoy working for
Companies House
Our aims
Companies House Companies House is an Executive Agency of the
Department of Trade and Industry
Trading Fund with a turnover of £57 million
1,200 staff
Live register - 2.0 million companies
Growing at 140,000 companies per year
13,200 PLCs
Register 7 million documents this year
Image database approx. 60 million images
30 miles of paper files
Key challenges
Customer Service “e” transformation Efficiency Technology Changes New Companies Bill Deregulation Fraud Control
Fraud
Facts and Figures– Measured since 2002
– Approximately 50 cases a month
– Over 500,000 standard filings a month (0.01%)
– 1 case could cost £1m.
False Filing Cases
33%
32%
11%
9%
7%
0 % 5 % 1 0 % 1 5 % 2 0 % 2 5 % 3 0 % 3 5 %
Officer appointedwithout consent
RO changed wthoutconsent
Address used withoutconsent
Warring directors
Officer resigned withoutconsent
Fraud
Key Issues– Statutory Basis– “Good Faith”– Nature of the Registry– Fast Registration– Deregulation Agenda– Data Validation & Cost Recovery– Document Removal
Fraud
Current Work– Focus on Hijacks– Operation Sterling– Police Liaison Officer– Publicity– Home Office Identity Fraud Steering Group– Work with Business Organisations– 3 Point Plan
Electronic filing
safe and simplea secure system for the quick and easy
online submission of company information
STEP 1
Monitor
get the bigger picturepre-order specified documents submitted
by the companies you wish to monitor
WebFiling
safe and simplea secure system for the quick and easyonline submission of company information
Companies House Direct
at your fingertipsonline access to the statutory records of
over 22 million registered companies
Fraud
Future Work– Crime Analysis– Promote 3 Point Plan - Only 50,000 Companies
on PROOF– Monitor on Webcheck– Raise Awareness– Work with Police, Business and OGDs– Evaluate Electronic validation options– Specific Offence in Company Law Reform Bill