Government refused to set targets for Companies House to reduce money laundering and fraud – Anneliese Dodds
Anneliese Dodds MP, Labour Shadow Treasury Minister, responding to the release of Public Targets for Companies House for 2019/2020, said:
“It is astonishing that the government has refused to set targets for Companies House to reduce money laundering and fraud.
“Despite crooks and criminals using the UK’s company registration system, there is no reflection of this in the priorities set today for Companies House.
“It appears that only a tiny fraction of company registrations are subject to due diligence by Companies House. Despite a number of cases showing how Companies House-registered shell companies have been involved in suspect transactions, even basic measures like drop-down menus for providing addresses have not been adopted. And the only person to have been prosecuted for registering a fraudulent company actually did so to highlight how open to abuse the current system is.”