Bounce Back Loan Scheme: Fraud
(asked on 7th October 2020) - View Source
Question to the Department for Business, Energy and Industrial Strategy:
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.
Answered by
Lord Callanan
Parliamentary Under Secretary of State (Department for Energy Security and Net Zero)
This question was answered on 21st October 2020
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.