Economic Crime Act Compliance UK - ECCTA Corporate Support
The Economic Crime and Corporate Transparency Act 2023 has introduced major changes to UK company administration, Companies House oversight and corporate transparency. Economic Crime Act compliance UK support helps businesses understand these requirements, strengthen internal controls and keep company information accurate and properly maintained.
What Is Economic Crime Act Compliance?
Economic Crime Act compliance generally refers to the steps a UK company takes to meet relevant requirements introduced under the Economic Crime and Corporate Transparency Act 2023.
The reforms give Companies House stronger powers to improve the accuracy of the register, request additional information, remove misleading material and take action against companies that fail to comply.
What Can ECCTA Compliance Involve?
Depending on the company's circumstances, compliance support can cover:
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Companies House identity verification
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Director and PSC compliance
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Personal code requirements
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Confirmation statement and statutory filing support
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Accuracy of company information
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Corporate records and governance
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Registered office compliance
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Fraud risk and internal controls
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Due diligence on relevant third parties
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Corporate transparency procedures
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Monitoring upcoming ECCTA requirements
Mandatory identity verification is now an important part of the reforms, with directors and PSCs required to verify their identities within the applicable transition and filing requirements.
Failure to Prevent Fraud
One significant ECCTA reform is the corporate offence of failure to prevent fraud, which applies to large organisations meeting the relevant statutory criteria.
Businesses within scope should consider whether their existing fraud prevention procedures are proportionate to the risks created by employees, agents and other associated persons. Practical measures can include risk assessments, internal controls, due diligence, policies and staff training.
Companies House Compliance Under ECCTA
Companies House is taking a stronger role in maintaining the accuracy and integrity of the UK company register. Its enhanced powers include requesting information, removing material and taking enforcement action where companies fail to meet requirements.
Companies should therefore ensure that information relating to directors, PSCs, registered offices and other corporate details is kept accurate and updated when circumstances change.
The government has also confirmed that further accounts filing reforms under ECCTA will take effect from April 2028, including commercial software filing for all companies.
ECCTA Compliance for Property Companies
Property companies, landlords, developers and investment businesses can have complex relationships with agents, contractors, suppliers and other third parties.
A structured compliance review can help identify weaknesses in approval processes, payments, due diligence, record keeping and fraud controls. This can be particularly useful where a company operates through multiple contractors, investors or property-related service providers.
Fraser Bond Economic Crime Act Compliance UK
Fraser Bond provides practical corporate and property consultancy support for UK businesses, investors and property owners.
Our Economic Crime Act compliance support can help businesses review relevant Companies House obligations, corporate records, identity verification requirements and broader fraud-prevention procedures.
For property companies and businesses operating in London and across the UK, Fraser Bond can also coordinate corporate compliance with wider property, landlord and operational requirements.
Get Economic Crime Act Compliance Support
If your business needs help understanding ECCTA requirements, reviewing corporate procedures or keeping up with Companies House reforms, Fraser Bond can provide practical UK compliance support tailored to your business.
