The Insolvency Service has announced that it has closed two more companies in its campaign against unregulated firms exploiting the Companies House register.
The overseas companies register on Companies House is a legitimate platform for companies seeking to open up new markets and attract investment for them. However, companies which have no presence in the UK undermine economic confidence by eroding trust in the register. They are also high-risk for being used as vehicles for fraud and money laundering.
Extensive powers under the Economic Crime and Corporate Transparency Act 2023 have given the Insolvency Service a range of tools to tackle corporate abuse and clean up the register.So far this year, the Insolvency…