The Government has announced new protections against identity fraud for company directors.
Business Minister Andrew Griffiths said the laws will make it easier for directors to remove personal addresses from the company register “while ensuring transparency”.
The announcement follows new research showing that company directors are twice as likely to be victims of identity fraud.
According to reports, fraudsters are using the publically available information listed on Companies House to pose as company directors to buy products online. Cifas, the fraud prevention organisation, claims that company directors are victims in one in five recorded cases of identity fraud.
Under the proposals announced today, stakeholders listed on the UK’s official business register will be able to remove their personal address and use their business address instead.
Personal addresses can only currently be removed when Companies House believe there is a serious risk of violence or intimidation as a result of the company’s work.
Mr Griffiths said: “Through our Industrial Strategy we have set our blueprint for ensuring we build on our reputation as one of the best places in the world to start and grow a business.
“These new laws will protect new and existing business owners from potential harm and identity fraud, while ensuring we maintain our high standards of corporate transparency.”
It is believed the laws will come into force by the end of summer 2018.