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BBB hires PwC to probe pandemic loan fraud

BBB hires PwC to probe pandemic loan fraud

The British Business Bank (BBB) yesterday announced it has recruited PwC to examine cases of possible fraud in its COVID-19 business loans programme. PwC has so far received almost £13.4m for its consultancy work on BBB, which has helped distribute loans to smaller businesses impacted by the pandemic. In a letter to the Public Accounts Commission in October, British Business Bank CEO Catherine Lewis La Torre said 26,933 fraudulent loan applications had at that point been detected, with a value of £1.1bn.

Read more: City AM


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