True extent of foreign aid fraud must be revealed, MPs demand

‘Ministers have been told to admit the true extent of fraud in the foreign aid budget after MPs published a damning report questioning the credibility of official figures.
The Commons Public Accounts Committee claimed the “remarkably low” official figures are not “credible given the risks they face overseas.”
Figures reveal that Britain gave £1.3 billion ($1.6 billion) to the world’s 20 most corrupt nations in 2015.
Official statistics claim, however, that just 3 pence in every £100 ($128) spent on foreign aid is lost to fraud.
While setting out the report, the committee highlighted a study by the University of Portsmouth which argues overseas aid is lost to fraudsters at a 3 percent rate, rather than the official claim of 0.3 percent. The Times calculated the equivalent amounts to £300 million ($385 million) a year.
“Reported levels of fraud do not seem credible given the risks (the departments) face overseas,” the report stated.’
Read more: True extent of foreign aid fraud must be revealed, MPs demand