Business urged to watch for fraud

The Metropolitan Police has joined forces with Companies House to education businesses on how to prevent their company identity being hijacked.

It is estimated that fraudsters who steal businesses identity to trade illegally under their name costs industry more than £50 million a year.

The ‘Sterling’ initiative aims to reduce this by urging businesses to check their Companies House details, password secure their information, and join an email alert system alerting the password holder to any change of company details.

Assistant Commissioner Tarique Ghaffur said the initiative “will have a significant impact by providing a method to prevent company identity fraud and protect businesses from considerable losses through this type of criminal activity.”