Question to the Department for Business and Trade:

To ask the Secretary of State for Business and Trade, what steps his Department is taking to reduce the number of fraudulent companies registered with Companies House.

In October 2023, the Economic Crime and Corporate Transparency Act 2023 was enacted with the primary purpose of bearing down on the fraudulent use of corporate structures in the UK. The process of implementing that legislation is underway but strengthened powers have already enabled the registrar of companies to intervene against 100,400 companies – equivalent to 2% of the register. This is further helped by expanded data sharing powers to collaborate with Law Enforcement partners to tackle strategic threats. Furthermore, this year Companies House is implementing mandatory Identity Verification to prevent false or hijacked identities being used.