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The Insolvency Service has a new investigation and enforcement strategy to tackle economic crime.

The Insolvency Service is the government agency that administers compulsory liquidations, investigates financial misconduct and disqualifies unfit directors from holding office.

It now plans to step up its corporate crime-fighting activities.

The agency will also step up efforts to tackle money laundering through hiring experts in cryptoassets, seizing more criminal proceeds of crime and expanding its intelligence functions. These teams were crucial in recent progress tackling networks of overseas criminals using shell companies registered in the UK.

Specialist investigators will also continue to investigate covid-19 bounce back loan abuse, with the government announcing earlier this year that viable existing casework would be transferred to the Insolvency Service from the National Investigation Service (NATIS).

In 2024-25, the Insolvency Service secured 77 criminal convictions, more than 1,000 director disqualifications, and more than £4m in compensation. Forty-one companies were also wound-up in the public interest following investigations by the agency.

Matt Ray, director of economic crime implementation at the Insolvency Service, said: “Fraud is now the most common crime affecting businesses and individuals across the UK. Meanwhile criminal and corrupt actors continue to use UK corporate structures at huge scale to obscure their activities and launder the proceeds. 

“Alongside our ongoing role upholding the UK’s insolvency framework we will adopt a much more central role in the fight against economic crime and work with Companies House and other partners to tackle the mass misuse of our corporate framework – helping us deliver economic confidence.

“Over the course of the strategy, our investigators will protect more consumers than ever before from rogue companies, target directors who fail to meet the high standards of behaviour we expect from them and lead the fight against fraudsters who have exploited government schemes designed to help small businesses.

“By acting against those who are unfit to run companies, we are reducing the harm caused to legitimate businesses and creditors and creating a prosperous environment that supports economic growth.”

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