Fraud
Industry NewsThe strategy aims to set out how it will strengthen internal resilience, protect public trust, and address fraud risks across its own operations.
Key insights include:
➡️ Counter-Fraud Scope: The strategy focuses on non-economic fraud risks within Companies House, including insider threats, procurement risks, internal process abuse, and cyber-enabled fraud;
➡️ Mandatory Identity & Systems Controls: Building on reforms under the Economic Crime and Corporate Transparency Act 2023 (ECCTA), Companies House will embed stronger internal controls alongside identity verification and new Authorised Corporate Service Provider (ACSP) services;
➡️ Fraud Risk Assessments: A structured programme of enterprise-wide, thematic and detailed fraud risk assessments will inform a single organisational view of residual fraud risk;
➡️ Technology & AI Enablement: Companies House plans to explore data and Artificial Intelligence (AI) capabilities to improve detection of fraud and error, including participation in the National Fraud Initiative; and
➡️ Culture & Accountability: The strategy prioritises integrity, whistleblowing, training and leadership ownership, with quarterly reporting to the executive board and oversight from a named accountable director.
✅ As Companies House continues to strengthen its internal controls and disclosure requirements, firms should continue to leverage the register across their due diligence and UBO discovery controls.
