Policy background Economic Crime and Corporate Transparency
Following the Corporate Transparency and Register Reform White Paper published in February 2022, and building on the recently enacted Economic Crime (Transparency and Enforcement) Act, the Economic Crime and Corporate Transparency Act tackles economic crime, including fraud, money-laundering and terrorist financing, by delivering greater protections for consumers and businesses, boosting the UK’s defences, and allowing legitimate businesses to thrive.
	This Act is intended to protect the UK’s national security, by making it harder for kleptocrats, criminals and terrorists to engage in money laundering, corruption, terrorism-financing, illegal arms movements and ransomware payments.
	Additionally, it supports enterprise by enabling Companies House to deliver a better service for over four million UK companies, maintaining the UK’s swift and low-cost routes for company creation and improving the provision of data to inform business transactions and lending decisions across the economy.