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UK gov't loses blns to fraud, corruption


Nepalnews
2023 Sep 09, 9:06, LONDON
A lantern is seen on the doorstep of 10 Downing Street in London, Britain, on March 23, 2021. (Photo by Ray Tang/Xinhua)

The United Kingdom (UK) government is estimated to have lost up to 44.9 billion British pounds (56 billion U.S. dollars) to fraud and corruption in 2022, a report published by lawmakers revealed on Friday.

"The Public Sector Fraud Authority (PSFA) does not have specific estimates for two-thirds of government expenditure, but estimates that fraud and error levels for that expenditure is somewhere between 0.5 percent and 5 percent," the Public Accounts Committee of the House of Commons said in its report.


Photo taken on Nov. 24, 2021 shows a view of Oxford Street in London, Britain. (Photo by Tim Ireland/Xinhua)
Photo taken on Nov. 24, 2021 shows a view of Oxford Street in London, Britain. (Photo by Tim Ireland/Xinhua)

"This implies that, in addition to the estimated 10 billion pounds of tax fraud and 6.4 billion pounds of benefit fraud lost in 2022-23, the government also lost somewhere between 2.5 billion pounds to 28.5 billion pounds to fraud and error -- without knowing exactly where or how," it said.

The report warned that, for the most part, the government's current system of fraud measurement does not know where the problems are, or which public bodies are most affected.


A cashier counts pound coins in a money change bureau in central London, Britain, on Oct. 8, 2016. (Xinhua/Han Yan)
A cashier counts pound coins in a money change bureau in central London, Britain, on Oct. 8, 2016. (Xinhua/Han Yan)

To address such levels of uncertainty, the committee has called for an annual strategic intelligence report on fraud and corruption levels across the government. (1 British pound = 1.25 U.S. dollars) ■


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United Kingdom (UK) government British pounds fraud corruption Public Sector Fraud Authority
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