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Can Corporate Identity Theft Be Stopped?

by Jo Shaer, on June 3, 2016

Stop_corporate_identity_theft.pngOne of the things we take really seriously at Lollipop is continuing professional development. In an industry that is full of cowboys and with very little regulation, we try to do whatever courses we can to prove our expertise and reassure potential customers that we are not just in this to take their money.

Hence our Google Partner accreditation for completing their Adwords training courses and our Hubspot Partner badge for completing their Inbound Marketing training courses.

It is also one of the reasons that we chose to be a limited company and to voluntarily pay VAT - transparency. However, with that openness comes a new type of vulnerability.

Jon recently attended an excellent presentation at a local hotel for new directors by Companies House. Following on from our recent post about how Company Directors can stop identity theft, one of the areas highlighted in this training session was the potential for corporate identity theft if you file all your Company documents by post.

Could your Limited Company have its identity hijacked?

Scammers can write in to change the registered address and start applying for loans in the name of your business. And you won't know a thing about it because all the information will be going to the fake address that they have created.

This process, known as hijacking, has become common enough to be mentioned in a paper on the abuse of incorporation from 2012.

In fact, according to Companies House, there are approx 50-100 cases of corporate identity theft every month!

To avoid this, it was strongly encouraged to register for PROOF - Protected Online Filing to prevent unauthorised paper filings.

This free service lets you protect your company from unauthorised changes to your records. It prevents the filing of certain paper forms by post, including:

  • changes to your registered office address
  • changes to your officers (appointments, resignations or personal details)
  • your annual return

 You have to have the login information to file electronic copies of these documents online.

 

Lollipop offer a variety of training opportunities relating to our industry

Find out more or book your training course by clicking on the image below

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Topics:Managing Directors

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