Tuesday, May 26, 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.’

source https://economictimes.indiatimes.com/industry/banking/finance/facing-liquidity-crunch-due-to-covid-promoters-and-businesses-will-attempt-frauds-round-tripping-and-evergreening-of-loans-pwc-report/articleshow/76025436.cms

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