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 what steps they have taken, if any, to identify fraudulent applications under the Bounce Back Loan Scheme; and what advice they took from banks or specialist advisors on identifying fraudulent applications.

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

The Government takes the threat of fraud very seriously and a range of measures have been put in place to mitigate fraud and error risk for the Bounce Back Loan Scheme. These include data and intelligence sharing arrangements, enabling us to work with lenders, law enforcement bodies and others to identify fraud.

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