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.