TRENTON, N.J.--(BUSINESS WIRE)--The New Jersey Department of the Treasury, Division of Revenue and Enterprise Services, has launched CorpWatch, a new service that allows companies to monitor all filings made regarding their businesses.
CorpWatch enables corporations and limited liability companies to be notified, in real time, of any legal documents filed with the Division, including filings that affect a company’s legal status and public contact addresses. This innovative service will add a new dimension for businesses interested in finding more efficient ways to ensure compliance with New Jersey’s legal filing requirements. It also serves as an anti-fraud tool by alerting businesses to potentially unauthorized, fraudulent filings.
“This new service represents an important step forward in the ongoing improvement of our business services program,” said James Fruscione, Director of the New Jersey Division of Revenue and Enterprise Services. “This will empower businesses by putting our public information to use through a new, collaborative channel.”
The new service automatically checks for legal business filings on a daily basis. Customers who sign up for the service indicate which businesses they wish to monitor, and designate the representatives who should receive filing alerts. For each business monitored, a text or email alert will be sent whenever the Division files a change or amendment.
Such changes and amendments include annual report filings, charter amendments, revocation/voidance actions, changes to registered agent and service of process – which involves formal notice regarding legal actions such as a civil action filed against the business. The alerts will empower businesses to flag unauthorized amendments and changes immediately and to notify the Division and other concerned entities, such as banks and payroll processing firms for follow up actions.
Customers will be able to edit the list of businesses monitored and individuals who receive notifications through their online account.
Unauthorized changes to business information are among the most common forms of corporate fraud, according to Dun & Bradstreet, the business information provider.* Commercial and legal filing systems administered by state governments are rich sources for basic business information, including contact addresses, names of officers and managing members and registered agents. As a result, services such as CorpWatch are becoming important business intelligence and security tools for corporations.
The service is the product of a partnership between the State of New Jersey and the New Jersey Information Division of NICUSA, Inc. The New Jersey Information Division of NICUSA, Inc. is the official eGovernment partner of the State, helping New Jersey government entities to web-enable their information services.
Several other states have launched services similar to New Jersey’s, including Utah, Maine, Alabama and Hawaii. The service was developed at no cost to the State.
* Combating corporate ID theft and fraud. Dun & Bradstreet (Australia) Pty Ltd. http://bit.ly/1Bq0PFH