Fraudulent suppliers will sometimes offer unbelievably low prices, then ask you to pay through untraceable methods such as a Western Union or wire transfer. When such case happens, you are advised to be cautious. Company identity fraud involves fraudsters using the legitimate name of a registered limited company, with whom they have no real association, in order to take money for goods which are never delivered.
Common items being sold include high value electrical goods such as mobile phones, particularly iPhones, plasma screens, computer products, components and peripherals, printer cartridges, furniture and high-class merchandise including clothing, branded accessories and sports goods.
Companies are selected by fraudsters because they have suitable names to the product being "sold". These companies tend to be smaller businesses as opposed to larger companies that are well known in the public domain. The victims in these cases are the companies who are being impersonated as well as the victims of the scam. Making accusations against a company being defrauded in this way could potentially backfire on you.
Very often our website ukdata.com is suggested by the suspect as a means to verify the business. The point in referencing our website is to convince potential victims that their business is genuine. Of course the company name is genuinely registered and may well be credit worthy, however the business "seller" does not actually work for the registered company. Some intended victims do not check that they are actually in communication with a genuine representative of the company in question, and hand over money for good which are never received.
Long firm fraud is a daily occurrence but is more time consuming to establish. Many file documents at Companies House to influences their credit rating. This process can take a number of weeks to mature so this is a very sophisticated approach. They will notify Companies House of changes in directors, company secretaries or the registered addresses. The fraudsters are then able to trade on those changes, and the real company remains completely oblivious.