Private Sector

Employers that believe they may have abused the Coronavirus Job Retention Scheme will have a 30-day period to admit their mistakes under plans being fast-tracked through Parliament.

HR and employment specialist XpertHR explains the potential  consequences for employers misusing the Coronavirus Job Retention Scheme, as well as examining the tricky issue of what employees can and can’t do while furloughed.

https://londonlovesbusiness.com/consequences-for-employers-misusing-the-coronavirus-job-retention-scheme/

The government has launched a review into the Fujitsu Horizon IT system that caused Post Office branch mangers to be falsely accused of fraud.

https://www.cityam.com/government-launches-review-into-false-post-office-fraud-claims/

A lax attitude towards fraud could lead to many businesses becoming victims of the coronavirus crisis, according to a top lawyer.

https://www.belfasttelegraph.co.uk/business/uk-world/fraud-could-make-or-break-firms-as-margins-squeezed-during-covid-19-39274088.html

Lookers, which operates a Volkswagen dealership in Carlisle, has warned investors they might be unable to buy and sell its shares from the beginning of July.

Chief operating officer Cameron Wade resigned just days after the potential fraud was announced in March.

https://www.expressandstar.com/news/motors/2020/06/08/lookers-warns-over-shares-suspension-after-potential-fraud-found-on-books/

Car dealership Lookers has warned investors they might be unable to buy and sell its shares from the beginning of July, after it discovered a potential fraud on its books.

https://uk.finance.yahoo.com/news/lookers-warns-over-shares-suspension-071606917.html?soc_src=social-sh&soc_trk=tw

LONDON (Reuters) - Britain's accounting watchdog said it has closed its investigation into accountants at Tesco <TSCO.L> in relation to the British supermarket chain's 250 million pound overstatement of profit in 2014.

https://uk.finance.yahoo.com/news/uk-accounting-watchdog-closes-remaining-064913000.html?soc_src=social-sh&soc_trk=tw&guccounter=1&guce_referrer=aHR0cHM6Ly90LmNvLzZ5c2M0MzBFYk0_YW1wPTE&guce_referrer_sig=AQAAACfIgdS64MfRSJyxtR2EFpRzsoamzXQh6pJVIb0LRuroJu12929j5kF-p5i9DpshZwEZc57tkyqMIAIuGIVdI0UM1KrUWNZmuRaQg2zPTN6UiDlOp9F6zV8uAIKsfZo9VdQcqDjRcbwHWgEAUe7rXphQiJ4zLyD1PppIQU0kWS7g

FURLOUGH fraud has been on the rise in recent weeks, with employers seemingly taking advantage of the government's scheme to exploit workers throughout the lockdown period.

With forecourts re-opening, automotive dealership fraud could be increased by the current COVID-19 lockdown. Kevin Shergold explains how you can prepare your business.

https://www.grantthornton.co.uk/en/insights/fighting-automotive-dealership-fraud-during-lockdown/