NCA makes first Bounce Back Loan fraud arrest

The National Crime Agency (NCA) has made its first arrest for a fraudulent claim using the Covid-19 Bounce Back Loan scheme. The person arrested is suspected of falsely applying for the loan and spending the funds on personal items. You can read the full story here.

This sort of activity is something that may impact insolvency appointments, and members should therefore be aware that matters such as this are under active investigation by the NCA. Accordingly, we would like to take this opportunity to remind all members that if you become aware of any suspicious activity in the course of your work, you should immediately report this to the relevant authorities such as the Police, Action Fraud, FCA and Insolvency Service, and submit a Suspicious Activity Report. You should also contact the IPA to keep us informed, as well as advising us of any other general concerns which you consider do not look right or may bring the insolvency profession into disrepute.

Visit our dedicated web page on current scam and fraudulent activity that is circulating here.