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New Companies (Risk (Disqualified director rule doesn't fire again…
New Companies
Risk
Can easily accept a business address used for URA
Disqualified director rule doesn't fire again once inc pended
Risk that company could be incorporated with disqualified director appointed
People can be appointed without their consent
Address data can be made up
Risk of subscriber URA being placed on public record
Happens sometimes
Complaints re quality of address data
Queries about DOB for PSC (No minimum age)
Complaints about quality of officer data
Assist Integrity teams with investigations into suspicious activity
Happens frequently
Same address used as URA for thousands of directors
Frustration for team who know this isn't the directors real URA
Complaints
Bankrupt/disqualified/secure/UN sanctions check prompted
Delays in handling incorporations
Rejects
Manual check of officer data on all incorporations
Resource intensive