1 / 23

Tim Moss Director of Corporate Strategy

Tim Moss Director of Corporate Strategy. 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.

sitara
Download Presentation

Tim Moss Director of Corporate Strategy

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Tim MossDirector of Corporate Strategy

  2. Presentation • Overview of Companies House • Fraud facts and Figures • Current Work • Prevention • Future Actions • Questions

  3. Our vision … is to excel as a registration authority and source of public information, for the benefit of the UK economy.

  4. 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 oncompany information • to promote limited companies

  5. Our aims • 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

  6. 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

  7. Key challenges • Customer Service • “e” transformation • Efficiency • Technology Changes • New Companies Bill • Deregulation • Fraud Control

  8. Fraud

  9. 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.

  10. False Filing Cases May 02 - July 05

  11. False Filing Cases

  12. Fraud • Key Areas • Company Hijacks • False Appointments • False Auditors • False Financial Information

  13. Fraud • Key Issues • Statutory Basis • “Good Faith” • Nature of the Registry • Fast Registration • Deregulation Agenda • Data Validation & Cost Recovery • Document Removal

  14. 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

  15. our 3 point plan toprevent identity fraud 1.Electronic Filing 2.PROOF 3. Monitor

  16. STEP 1 Electronic filing safe and simple a secure system for the quick and easy online submission of company information

  17. STEP 2 PROOFPROtected Online Filing

  18. STEP 3 Monitor Get the bigger picture

  19. WebFiling Companies House Direct safe and simple a secure system for the quick and easyonline submission of company information at your fingertips online access to the statutory records ofover 22 million registered companies Monitor get the bigger picture pre-order specified documents submitted by the companies you wish to monitor

  20. 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

  21. Any Questions?

More Related