In Martin Kenney’s view, there needs to be a joint public/private sector partnership approach to redress huge fraud losses to the public purse from Covid pandemic fraud.
The crimes linked to the COVID-19 pandemic are particularly insidious. The EU is preparing to battle this fraud and corruption by setting up a new European Public Prosecutor’s Office.
We are sitting on an immense COVID-fraud timebomb, which governments will struggle to resolve, warns Martin Kenney.
With new vaccines finally coming online and the impact of extended lockdowns and better testing regimes, there is finally some light at the end of the tunnel after the terrible year that was 2020.
Only a relatively small number of companies are set up as vehicles for fraud, so the UK’s relaxing of its wrongful trading rules – while companies struggle with cashflow during the Covid-19 pandemic – is to be welcomed.