Saturday, August 15

How do I know if a company is fake or not?

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In the present world, especially the online world, scams, and frauds are unfortunate aspects, enough to destroy our online experience. These fraudulent websites or fake companies are powerful enough to leak our confidential information and personal details that might cause us to lose money. Thus any web user needs to be safe online and check for the reality and trustworthiness of a company before interacting or transacting with it. A company might look genuine to the common eyes but might be a huge fraud.

Tofler is such a registered website that provides you with the complete details of any company that is real and registered. You have to enter the name, CIN or DIN of a company that you want to look up, and it would show the entire details like the year of establishment, address, contact details, and the current status of the company. Tofler also provides you with several blogs and articles about frauds and scams and how you can be safe from them.

The ‘Company 360’ is an initiative by Tofler which provides you with all the details that you would require to cross-check a company like-

  • The financial history and the original finance documents filed by the company.
  • Comprehensive and updated information about corporate litigations across courts in India.
  • Credit rankings of companies and whether any director has been a defaulter.
  • Original MCA filings, special resolutions, incorporations and charge documents, etc. of a company.
  • Charges of the company’s assets, including terms of repayment, interest rates, etc.
  • Capital structures of the company, received consideration, type of security issued, and original filings done at the allotment of shares.
  • The network of a company, its connection to other companies and directors, joint ventures, subsidiaries, and much more.

‘Company 360’ by Tofler provides you with an insight into the management, network, employees, auditors, etc.

There is one such article that is the description of personal experience by the Tofler team. It provides us with three simple checks to prevent fraud.

  1. Incorporation date- The establishment date of any company can be tallied with the number and type of reviews about the company. Any kind of realistic figure would be permissible to interact with a company.
  2. Registration Details- This might be misleading as the registration details may look realistic, and you might fall into the trap of such smart scams. However, an unrealistic and non-existent physical address or contact details of a company is a clear indication of a fraud.
  3. Directors and Directorships- Tofler provides you with details of the directors and directorships of the company, which you can tally with.

Getting caught in scams and losing your precious money is painful. But the fact is that you cannot totally eradicate this problem yourselves. To safeguard yourselves from these types of scams, the best thing you can do is to find all the registered details of the company. Tofler is one such website from which you can benefit as it provides you with all the registered details of the company at your disposal.

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