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Bankruptcy-related fraud

Fraud relating to bankruptcy and insolvency can involve companies fraudulently trading immediately before being declared insolvent, or phoenix companies.

Phoenix companies are when, following the insolvency of one company, a new company is set up overnight with the same directors, but is not liable to pay for the losses of the previous business because they seem to be different entities.

Bankruptcy and insolvency related fraud also includes illegal trading while suspended or disqualified.

Bankruptcy describes the financial status of a person. The victims of bankruptcy and insolvency related fraud tend to be the businesses that have given the bankrupt person credit, eg credit card companies and personal loan companies.

Fraud has been committed if money has been lost.

How to report it

If Fraud has been committed report it to Action Fraud. For more advice and to raise any concerns, contact the Office of the Public Guardian.

See also:
Phoenix company fraud
Credit card fraud
Short and long firm fraud

Source - Action Fraud

Date Published: Jul 20, 2018

Types of fraud

A-Z of fraud

To help understand which fraud you've been affected by, we've categorised them into an alphabetical list.

What is fraud and cyber crime?

Fraud is when trickery is used to gain a dishonest advantage, which is often financial, over another person.

Advance fee fraud

Advance fee fraud is when fraudsters target victims to make advance or upfront payments for goods, services and/or financial gains that do not materialise.

Corporate fraud

Corporate fraud can be any fraud committed against a business.

Individual fraud

Individual fraud could be any fraud that targets a person directly. Individual frauds can differ from frauds affecting businesses and other organisations.

Online fraud

Some fraudsters rely on the internet to commit their crimes. Learn about some different types of internet frauds that and how to protect yourself and get safe online.

Identity fraud and identity theft

Identity theft is when your personal details are stolen and identity fraud is when those details are used to commit fraud.
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