Banks push for tech giants to share scam ad costs Tech Social media companies are facing renewed calls to help pay for tackling online fraud, as the UK prepares to unveil its updated national fraud strategy. The Payments Association said platforms like Meta Platforms and X should take greater responsibility for scam adverts that appear on their sites, arguing they profit from the ads, while banks [...]
New Companies House ID rule triggers 30 per cent slump in registrations Business Companies House’s new rules to prevent fraud have sparked a dramatic fall in new company registrations. As of 18 November, a new law came into effect requiring company directors to verify their identity, with failure to do so carrying enforcement risks. The new rules were part of Companies House’s new ID powers, which aim to [...]
Company directors now required to verify identity under new rules In one of the biggest changes at Companies House for years, its new ID powers kicked in today – forcing company directors to verify their identity or risk facing new enforcement powers. Starting from 18 November, anyone who becomes a company director or person with significant control will need to verify their identity via GOV.UK [...]
Revolut co-founder Nik Storonsky changes his name as new ID rules introduced November 17, 2025 The co-founder of Revolut has changed his name on Companies House ahead of the introduction of new identity verification rules. Nik Storonsky has changed the spelling of his official name as a Revolut director to Nik Storonskiy, corporate filings show, in a move thought to align the spelling with how it appears on other official [...]
Large firms liable for fraud happening under their watch under new UK laws September 1, 2025 Businesses could be prosecuted if they profit from fraud committed by one of their employees even if managers do not know about it, under new UK laws. The new “failure to prevent fraud” offence, which came into effect on Monday, holds large firms to account over their internal anti-fraud measures. It says that businesses can [...]
UK businesses set to face tougher compliance over fraud August 26, 2025 British businesses need to prepare for a “sea change” as the new powers to tackle fraud come into effect next Monday. The Serious Fraud Office (SFO) director Nick Ephgrave told City AM last year that time was running short for businesses “to get their house in order” ahead of its new powers. From 1 September, [...]
UK firms unprepared for Companies House crackdown July 15, 2025 Significant changes are set to come into effect at Companies House over the next few months, but new research shows most managers are unprepared for the transition. With key provisions of the Economic Crime and Corporate Transparency Act (ECCTA) about to take effect, new research from Vistra reveals that only 28 per cent of UK [...]
Get your house in order, says SFO boss as corporate fraud countdown begins November 6, 2024 Big businesses have nine months to implement fraud preventions, with the SFO boss warning "time is now running short for corporations to get their house in order".
Here are the new powers for Companies House that come into force today March 4, 2024 The first set of powers from the Economic Crime Bill is set to come into force on Monday, as changes to Companies House come into play.