Taxpayers could lose up to £27bn to Covid loan fraud while benefit scams reach all time high TAXPAYERS could lose as much as £27bn from fraudsters taking government-backed loans with no intention of repaying them, a group of MPs has said. A report, published today by the Public Accounts Committee (PAC) also states that fraud within the Universal Credit benefits system during the pandemic reached an all-time high, rising by £3.8bn to £5.5bn between April last year and March 2021. MPs suggested that the government has created an opportunity for people looking to exploit their generous schemes designed to help firms throughout the crisis and prevent mass unemployment., with an “increased appetite for fraud” arising since the virus swept the UK.
Taxpayers could lose billions through pandemic support schemes
cityam.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from cityam.com Daily Mail and Mail on Sunday newspapers.
UK Government s Covid loan schemes plundered by fraudsters
thenational.scot - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thenational.scot Daily Mail and Mail on Sunday newspapers.