UK Corporate and Identity Theft

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Presentation of balance between Ease of Doing Business and Corporate ID theft. Presented to the Ease of Doing Business Seminar South Africa April 2013

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UK Corporate and Identity Theft

  1. 1. providing companyinformation thatcustomers value“”
  2. 2. Corporate and director identitytheftLynn LynchCompanies HouseUK
  3. 3. 3m 10485,000175,000,000181 MILLION151298,000,000130,000,000169100
  4. 4. Functions
  5. 5. Legislation
  6. 6. Types of corporate fraud• Corporate identity theft – short firm• Company incorporated solely to commit fraud• Move from paper to electronic fraud
  7. 7. Other fraud• Telephone scams• VAT Registry scams• Job offers and Visa scams• Internet auctions and Bond site scams• Stealing electronic authorisation codes
  8. 8. Fraudulent filings at Companies House• Registered office change with no companyapproval• Appointments without consent• Company name change• Director’s address change• Internal company disputes – directors at war
  9. 9. Our position• Registrar has no statutory authority to takedirect action• General responsibility under Proceeds ofCrime Act• ‘Good faith’ principle• Balance easy registration with fraud prevention
  10. 10. Fraud protection• File electronically• ‘Monitor’• PROtected Online Filing (PROOF)
  11. 11. PROOF documents• Appointments• Resignations• Change of officer details• Annual return• Change of registered office
  12. 12. PROOF documents• 1.2 million companies use PROOF• But 100 fraudulent filings per month
  13. 13. Working with others• City of London Police• Met Office• SOCA (Serious Organised Crime Agency)• Action Fraud
  14. 14. providing companyinformation thatcustomers value“”

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