Question to the Department for Business, Energy and Industrial Strategy:

To ask the Secretary of State for Business, Energy and Industrial Strategy, what steps he is taking to help ensure that claims on the state back guarantee on bounce back loans are assessed for fraud risk.

The Bounce Back Loan Scheme (BBLS) Guarantee Agreement and subsequent recovery principles document outline the minimum fraud protection standards lenders were expected to adhere to. If a lender fails to apply these minimum standards, they cannot make a claim on the guarantee.

The British Business Bank, who manages the BBLS scheme on behalf of Government, maintains an ongoing lender audit assurance programme which provides insight into the effectiveness and adequacy of recoveries efforts by lenders. Where issues are identified the Bank can take remedial action.