The UK Government has announced plans to help crack down on fraud and money laundering.
In Brief:
The Economic Crime and Corporate Transparency Bill is having its second reading in parliament.
It aims to “strengthen the UK’s reputation as a place where legitimate businesses can thrive while driving dirty money out of the UK”.
Companies House will have more power to challenge incorrect or fraudulent information.
What does this mean?
Reforms will centre around identity verification as well as preventing the abuse of limited partnerships.
