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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