Covid bounce back loans, bad debts and fraudulent activity

Stuck between a rock and a hard place at the height of the Covid pandemic, facing the potential collapse of the UK economy, HMRC announced fast-track funding. While many warned at the time that the application process was open to fraudulent activity, the government distributed approaching £100 billion in grants and loans.  The bounce-back loan scheme is attracting the most interest amid concerns of bad debts and fraudulent activity on a criminal scale.

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