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January 26, 2021

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Corporate registration fraud on the rise

Relaxed rules have led to more instances of registrations with false identities, according to a deputy to Shanghai People’s Congress.

Such criminal activities should be curbed by streamlining administrative measures, as law enforcement and punishments aren’t forceful enough to deter them, said the deputy, Chen Huanyan, manager of the department of legal affairs at Shanghai Fengxian Gas Co.

In Fengxian District alone, as the number of new companies registered has continued to increase since 2014, government officials have received an increasing number of complaints from residents whose names appear on shareholder lists or as legal representatives of companies unfamiliar to them.

In 2014, there were only eight complaints, while last year there were 262, leading to more cases filed against the government.




 

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