Greensill: British Business Bank’s ‘woefully inadequate’ checks put £335m at risk, say MPs

Public accounts committee questions why the bank was ‘insufficiently curious’ about reports suggesting Greensill was close to collapse

Up to £335m of taxpayers’ money could be at risk due to failures by the British Business Bank to properly scrutinise collapsed lender Greensill Capital, according to a new report.

The public accounts committee found that the bank, which oversaw the billions lent to businesses during the pandemic in loans backed by the government, failed to conduct sufficient due diligence.

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