In July, a 57 year old West Midlands man was arrested as part of an investigation into a suspected £495,000 fraud relating to the furlough scheme. It is estimated that there has been around 9.4 million employees placed on furlough at some point through the COVID-19 crisis, since the scheme was announced, which accounts for around a third of the total UK workforce. However, not all businesses and individuals have complied with the scheme's requirements and investigations into Furlough fraud by HMRC are on the rise.
Raising awareness around this new topic is BLM's Iskander Fernandez in his article for Employee Benefits. Iskander says, "Wherever there is a complex system, there are loopholes, and some may have taken advantage of this. According to HM Revenue and Customs (HMRC), at present up to 30,000 organisations are so far suspected to have committed furlough fraud by wrongly claiming government cash they were not entitled to."
To read Iskander's full article on the Employee Benefits website, please click here.