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Emergency loans and grant schemes have been provided by governments to keep businesses afloat. The British “bounce back” scheme, which was massively bilked by international criminals, is far from exceptional.
Fraudsters created 25,000 duplicate applications that got through the threadbare checking system. Over £1 billion was paid out by the British government to companies with offshore accounts, largely in the Balkan states, and which will never be retrieved.
In fact, this was only 4 per cent of the total paid out on the scheme - £23 billion – and the UK government will excuse its lack of control on the need to act with alacrity in an emergency.