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The Independent UK
The Independent UK
National
Adam Forrest

Covid fraud losses could top £4.9bn after swindlers given ‘open goal’, MPs warn

Covid-19 BEIS Meg Hillier
PA Wire

The “eye-watering” amount of taxpayers’ money lost to fraudsters who exploited Covid support schemes could be even higher than previously feared, MPs have warned.

The Department for Business, Energy & Industrial Strategy (BEIS) has estimated that £4.9bn has been lost from loans issued to ineligible businesses during the pandemic.

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