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Bounce Back Loan Scheme: Fraud

Question for Department for Business, Energy and Industrial Strategy

UIN HL8879, tabled on 7 October 2020

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 on

21 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.