Corporate fraud lawyers in demand after steep rise in crime

Published on 26 May 2010 under category: legal

Corporate fraud lawyers may be even more in demand after a new survey found that identity fraudsters are moving into company crime.

The study from CPP revealed that the collective cost to small businesses in the UK was around £1.3 billion.

Nearly 100,000 firms have been affected, losing on average around £13,500.

The figures come as another blow to firms that have struggled during the recession.

CPP believes that the number of companies that could be considering calling in corporate fraud lawyers is set to increase as fraudsters take advantage of laxities in data processing at Companies House.

Fraudsters can hijack a company's identity by simply sending in amendments to the firm's address or the personal details of the directors.

Commenting on the findings, Michael Lynch, fraud expert at CPP, said: "The current loopholes in the Companies House system make it worryingly easy for impostors to steal company information and forge its identity, which can have huge financial impacts."

If you require advice on Corporate Fraud please call us on +44 (0)20 7831 0101 and ask for Dan Hyde.