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04 May 2022
Issue: 7977 / Categories: Legal News , Criminal , Covid-19
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Treasury fraud squad to target crimes against public purse

A £25m fraud squad, to be known as the Public Sector Fraud Authority, will be up and running by July, the Treasury has announced

It will target frauds against the public purse such as money stolen from Covid support schemes.

In January, Chancellor Rishi Sunak admitted losing £5bn worth of coronavirus emergency bounceback loans, which were provided by banks but 100% guaranteed by the government. Treasury minister Lord Agnew resigned in response, accusing the Treasury of ‘schoolboy errors’. Following questions raised in Parliament, Sunak was forced to deny ‘writing off’ the money.

Nicola Finnerty, criminal litigation partner, Kingsley Napley, said: ‘There has been increasing criticism that not enough is being done about Covid-related loan and furlough fraud.

‘Whether this new taskforce will make a real difference though is questionable. We have heard similar commitments before and an investment of just £25m seems very light in terms of the scale of the problems.’

Issue: 7977 / Categories: Legal News , Criminal , Covid-19
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MOVERS & SHAKERS

Ward Hadaway—19 promotions

Ward Hadaway—19 promotions

19 promotions across national offices, including two new partners

Brabners—Ruth Hargreaves

Brabners—Ruth Hargreaves

Partner promoted to head of corporate team

Slater Heelis—Liam Hall, Jordan Bear & Joe Madigan

Slater Heelis—Liam Hall, Jordan Bear & Joe Madigan

Chester office expansion accelerates with triple appointment

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