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£50 billion cash missing from UK central bank

by Joshua
December 6, 2020 12:37 am
in Business
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UK central bank £50 billion cash missing
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UK central bank £50 billion cash missing
MPs demand UK central bank for finding missing reason | Photo: Metro & CTV

£50 billion of cash missing from the central bank (Bank of England) in the UK. The bank has launched an investigation to finding the reason for the huge amount of missing money.

Analysts are of the opinion that there has been no transfer or transaction of this money in the right way; Not even saved anywhere. It is assumed that it has been trafficked.

In other words, this huge amount of money is no longer in the normal accounts of the economy.

According to the BBC, the loss of the money from the UK’s central bank was first brought to the attention of the country’s National Accounts Office in September of this year.

The government’s accounts committee says the bank must be more careful in seeking this money.

Because this huge amount of money can also be used for illegal purposes; Whose liability cannot escape government policy and government coffers.

However, it is not just the UK that suffers from losing money from the central bank; Many other countries in the world have been victims of such situations.

In this context, a spokesman for the Bank of England said that the bank must be responsible for providing the money as demanded by the government.

He also assured that the central bank has been fulfilling that responsibility and will continue to do so.

The BBC says a committee of MPs has no explanation as to why the central bank did not control the money.

The £50 billion lost from the accounts is one-third of the country’s total banknotes.

In this context, the head of the government’s committee, Meg Hiller said that the money may have been removed somewhere that the bank did not notice. There is no concern about who did it or why the money was transferred.

Tags: MoneyUKWorld

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