according to a new report from the national audit office, more than one in ten of the loans may have been fraudulent, costing the taxpayer almost 5 billion pounds. the report says that measures put in place to stop fraud were implemented too slowly. 0ur correspondent, angus crawford, reports. a hard stop. police arrest a drug dealer, a member of a manchester gang that used a front business to hide their crimes. and this is it. from a couple of portakabins, they planned to take over the local cocaine market. but what s really extraordinary is they managed to get a £25,000 bounce back loan to help their business through the pandemic. and they weren t the only ones. it s a bounce back loan application that s been approved for £50,000. last year, this undercover investigator showed us how criminals were setting up fake companies to exploit the system. it seems to be free money for the scammers. it s going to cost us billions. 4.9 billion, according to today s report.
police arrest a drug dealer, a member of a manchester gang that used a front business to hide their crimes. and this is it. from a couple of portakabins, they planned to take over the local cocaine market. but what s really extraordinary is they managed to get a £25,000 bounce back loan to help their business through the pandemic. and they weren t the only ones. it s a bounce back loan application that s been approved for £50,000. last year, this undercover investigator showed us how criminals were setting up fake companies to exploit the system. it seems to be free money for the scammers. it s going to cost us billions. 4.9 billion, according to today s report. anti fraud measures, it says, were implemented too slowly to be effective and are inadequate. well, today we announced a brand new loan scheme for the smaller businesses. designed as a life saver forsmall firms, more than £47 billion was handed out.
the oil giant, shell, has pulled out of a controversial development to the west of shetland. despite owning 30% of the cambo oil field, the company said the economic case for investing wasn t strong enough. climate activists had criticised the plans, arguing no new oil and gas projects should be developed. fraudsters have stolen billions of pounds by abusing the government s bounce back loan scheme. according to a new report from the national audit office, more than a third of loans may never be repaid, costing the taxpayer up to £17 billion. 0ur correspondent, angus crawford, reports. a hard stop. police arrest a drug dealer, a member of a manchester gang that used a front business to hide their crimes. and this is it. from a couple of portakabins, they planned to take over the local cocaine market. but what s really extraordinary is they managed to get a £25,000 bounce back loan to help their business through the pandemic.
about a sea in attitudes. the fa has apologised today, saying collectively, we must never allow this to happen again. fraudsters have stolen billions of pounds by abusing the government s bounce back loan scheme, which was designed to help small businesses survive during the covid pandemic. a new report from the national audit office says more than one in ten of the loans may have been fraudulent costing the taxpayer nearly £5 billion. the nao says that measures put in place to prevent fraud were implemented too slowly. angus crawford reports. a hard stop. police arrest a drug dealer, a member of a manchester gang that used a front business to hide their crimes. and this is it. from a couple of portakabins, they planned to take over the local cocaine market. but what s really extraordinary is they managed to get a £25,000 bounce back loan to help their business through the pandemic. and they weren t the only ones. it s a bounce back loan application
used a front business to hide their crimes. and this is it. from a couple of portakabins, they planned to take over the local cocaine market. but what s really extraordinary is they managed to get a £25,000 bounce back loan to help their business through the pandemic. and they weren t the only ones. it s a bounce back loan application that s been approved for £50,000. last year, this undercover investigator showed us how criminals were setting up fake companies to exploit the system. it seems to be free money for the scammers. it s going to cost us billions. 4.9 billion, according to today s report. anti fraud measures, it says, were implemented too slowly to be effective and are inadequate. well, today we announced a brand new loan scheme for the smaller businesses. designed as a life saver forsmall firms, more than £47 billion was handed out. but how much of that will legitimate