Oireachtas Joint and Select Committees

Wednesday, 15 December 2021

Joint Oireachtas Committee on Jobs, Enterprise and Innovation

Companies Registration Office: Discussion

Photo of Louise O'ReillyLouise O'Reilly (Dublin Fingal, Sinn Fein)
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That is good to know. I want to briefly touch on the area of bogus and fake companies. Mr. Newham will be aware that my colleague, the Chair of the committee, an Teachta Quinlivan, has written to the Department about the CRO’s response to this. It is an area that I know the Chair has done quite an amount of work on. I ask Mr. Newham to outline what the Department has done since reports by the Irish Independent and other media have stated that legitimate businesses like the HSE unit have had their addresses used to set up these fake and bogus firms. These firms can be used to perpetuate a huge amount of fraud around the world. They might have an address here but, as we know, the fraud they are engaged in does not recognise any borders. We are talking about victims that could potentially be scammed out of millions of euro. I would like an update from the Department on the work the CRO is doing on this.