A substantial portion of the £11 billion lost to fraud within a government COVID-19 financial support program is considered irrecoverable, according to a recent report. The report highlights that investigators are unlikely to recoup the vast majority of the funds that were illicitly obtained through various schemes designed to aid businesses and individuals during the pandemic. This finding underscores the significant financial impact of the fraud, leaving taxpayers to absorb substantial losses. The scale of the missing money suggests a widespread and sophisticated operation that exploited the urgent need for assistance during the global health crisis. Recovery efforts are ongoing, but the report indicates that the success rate for reclaiming these funds is expected to be minimal.
- Advertisment -