Fraudulent Covid Business Loans

[gbhibby]

Remember watching a BBC report about people taking out loans by stealing peoples identity and setting up sham companies and pocketing thousands of pounds. The report suggested that the sums involved could be in the billions.
Not heard anything about this for some time. Is this being swept under the carpet?
Figures involved in the fraud are estimated to be £20b to £25b somebody needs to answer for this.

[lord bunberry]

Remember watching a BBC report about people taking out loans by stealing peoples identity and setting up sham companies and pocketing thousands of pounds. The report suggested that the sums involved could be in the billions.
Not heard anything about this for some time. Is this being swept under the carpet?
Figures involved in the fraud are estimated to be £20b to £25b somebody needs to answer for this.
That amount of money would require fraud on a huge scale, I’d be surprised if the total fund for the scheme was as much as that.

[Santa Cruz]

That amount of money would require fraud on a huge scale, I’d be surprised if the total fund for the scheme was as much as that.

It's estimated at around 27b. Typically fraud costs the public purse around 51b each year, around 25b is outside the tax and benefit system. Just a summary (I've not read it all) from this very long HoC Public Accounts Report from June this year.

https://committees.parliament.uk/publications/6469/documents/70574/default/

[lord bunberry]

It's estimated at around 27b. Typically fraud costs the public purse around 51b each year, around 25b is outside the tax and benefit system. Just a summary (I've not read it all) from this very long HoC Public Accounts Report from June this year.

https://committees.parliament.uk/publications/6469/documents/70574/default/
That’s astonishing amounts of money.

[easty]

https://www.ft.com/content/4718b01e-aae9-4d1e-a39a-3b7d6675c551