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Wednesday, May 27, 2020

Facing liquidity crunch due to Covid, promoters and businesses will attempt frauds, round tripping and evergreening of loans: PwC report

Unstable cashflows and low reserves, coupled with a restricted ability to seek additional debt or equity financing, can create immense pressure on businesses to divert funds between entities for non-permissible or surreptitious purposes, said the PwC report titled ‘Rethinking Fraud and Economic Crime.’

from Banking/Finance-Industry-Economic Times


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