Beware of Fraudulent Solicitations Regarding the Corporate Transparency Act

Business and Commercial Law

February 21, 2024

Here at Worden Thane, we believe in empowering our clients with the knowledge and resources they need to navigate the legal landscape safely and confidently. Today, we want to bring your attention to a pressing matter concerning fraudulent attempts targeting individuals and entities subject to reporting requirements under the Corporate Transparency Act (CTA).

The Financial Crimes Enforcement Network (FinCEN) has recently been alerted to a series of fraudulent solicitations aimed at gathering sensitive information from reporting companies. These fraudulent communications often come under the guise of an “Important Compliance Notice” and may prompt recipients to click on a URL or scan a QR code.

It’s crucial to recognize that these communications are not legitimate. FinCEN does not send unsolicited requests for information via email or traditional mail. Therefore, any correspondence purporting to be from FinCEN requesting such actions should be treated with suspicion.

As a reminder, reporting companies under the Corporate Transparency Act include corporations, limited liability companies (LLCs), homeowners associations, and similar entities. If you fall into one of these categories, please remain vigilant against potential scams and exercise caution when handling unsolicited communications.

To safeguard yourself and your organization against potential threats, we urge you to adhere to the following precautions:

  1. Verify the Source: Before responding to any communication purportedly from FinCEN or any other regulatory body, take the time to verify its authenticity. Contact the relevant agency directly using trusted contact information to confirm the legitimacy of the request.
  2. Exercise Caution with Links and QR Codes: Avoid clicking on links or scanning QR codes embedded in unsolicited emails or letters, especially if they claim to be from FinCEN or other regulatory authorities. These may lead to malicious websites or phishing attempts aimed at stealing sensitive information.
  3. Report Suspicious Activity: If you receive a suspicious communication or believe you have been targeted by a fraudulent scheme, report it immediately to the appropriate authorities. By reporting such incidents promptly, you not only protect yourself but also help prevent others from falling victim to similar scams.

At Worden Thane, we remain committed to serving as a trusted partner in your legal journey. If you have any concerns or questions regarding the Corporate Transparency Act or any other legal matter, please don’t hesitate to reach out to our team. 

For more information about the Corporate Transparency act, please refer to our previous blog on the subject.

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