COVID fraud costs UK £11 billion, report finds

Fraudulent claims for taxpayer funds during the COVID-19 pandemic cost the UK government £10.9 billion ($14.5 billion), according to a new independent report. Schemes like Bounce Back Loans and Eat Out to Help Out lacked safeguards against fraud, the report said.

Finance Minister Rachel Reeves said, “Leaving the front door wide open to fraud has cost the British taxpayer £10.9 billion — money that should have supported public services and families.” So far, £400 million has been recovered, News.Az reports, citing Reuters.

The report highlighted weak accountability, poor data quality, and inadequate contracting as key reasons for the losses. It also noted that counter-fraud measures only improved later in the pandemic.

News.Az