Does the Government have an effective plan to tackle economic crime?
The Business and Trade Committee questions Government minister Kevin Hollinrake on his department’s plans to tackle fraud and identity theft through the Economic Crime and Corporate Transparency Act (ECCTA) 2023.
Meeting details
At 9:45am: Oral evidence
Work
Implementation of Economic Crime and Corporate Transparency Act 2023 (Non-inquiry session)
Companies House, the agency that maintains a searchable register of company information, will transform under the ECCTA from a passive registrar to an active regulator of economic crime. But it is currently unclear how this will be achieved, and how it will be funded.
According to media reports, as much as 20% of corporate registrations on Companies House contain false or misleading information, some of which have been used to facilitate serious and organised crime against people and businesses.
In the second panel, independent experts will give evidence on the likely impact of the ECCTA. In a third panel, law enforcement agencies are likely to be asked how the regime will be managed and directed through the National Economic Crime Centre.