Bounce Back Loan Scheme: Fraud

Department for Business, Energy and Industrial Strategy written question – answered on 21st October 2020.

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Photo of Lord Myners Lord Myners Non-affiliated

To ask Her Majesty's Government whether the recovery of loans under the Bounce Back Loan Scheme considered fraudulent is the responsibility of lending banks or the Government.

Photo of Lord Callanan Lord Callanan Parliamentary Under-Secretary (Department for Business, Energy and Industrial Strategy)

Lenders are expected to pursue appropriate recovery processes including in relation to fraudulently obtained loans under the Bounce Back Loan Scheme, in line with their existing standards. The Government will be providing further guidance to lenders on this.

The Government will also consider other appropriate mechanisms to recover fraudulently obtained funds as required.

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