As Companies House continues to change, it is understandable that businesses are unsure of what to expect.
While the changes themselves centre around consolidating power to tackle fraud, scammers are using the uncertainty brought about by the changes to target business owners.
Now Companies House is warning businesses about these scams and it is worth discovering the things to look out for so you can stay safe.
What are the warning signs of the Companies House scam?
The main way in which scammers aim to target businesses is by using fake invoices designed to trick unsuspecting businesses into paying money they do not owe.
While the hit to a bank balance is certainly harmful, the more insidious nature of these scams may be in how they handle data.
As with all phishing attacks, the main objective is to gain access to sensitive data, which can then be used to extract further funds or information from a business.
The reputational damage that can be inflicted on businesses is severe, so knowing how to spot the warning signs is essential.
These fake invoices can come in the form of letters or emails, but should be recognisable due to their oddity.
Companies House recommend doing the following:
It never hurts to be cautious and double-check any information before committing to a payment that could jeopardise your business.
Can businesses avoid Companies House scams?
There is no definitive way to prevent scammers from attempting to trick you into parting with money or data.
The Companies House scam sits alongside other phishing attempts and similar fake correspondence can claim to be from HMRC, a bank, suppliers or an accountant.
The only way to protect against scams is to be vigilant and ensure that your team are fully trained on how to keep themselves and the company safe.
While the ongoing changes to Companies House may be confusing, we are here to help you make sense of them.
By knowing how the guidelines are actually changing, you can be better prepared against false information that may try to pretend that new requirements necessitate a response to something you have been sent.
High-pressure tactics are often employed by scammers to prevent you from noticing the warning signs, but there is never a reason to panic should Companies House or HMRC contact you.
If you receive any alarming correspondence, our team can help you to understand it and determine whether it is legitimate.
Ultimately, we will be working alongside you to stay fully compliant with Companies House and with HMRC’s regulations.
This should give you the confidence needed to know when someone is trying to scam you.
For a genuine understanding of how changes to Companies House affect your business, get in touch with our team.
