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<p>The Fraud Advisory Panel wrote to the Chancellor asking for the details of borrowers
under the Bounce Back Loan Scheme to be published, a central repository of loans and
grants to be created, and for additional measures to be introduced to tackle fraud.</p><p>
</p><p>The British Business Bank, as administrators of the loan scheme, collects over
70 data points across ever single loan. Data on applications and loans approved under
the scheme was published regularly while the scheme was open, and data on the repayment
of the loans is now being published regularly now that the scheme has closed to new
loan applications. However, we have a duty to consider the privacy of businesses accessing
these schemes, which is why data has been – and will continue to be - published on
an aggregate basis.</p><p> </p><p>We remain committed to cracking down on fraud wherever
it arises. But we have always been clear that fraud is unacceptable and that those
found to have defrauded the government will face immediate demand for repayment of
their loans, and could also face a fine and prosecution. We are taking action against
those abusing the system by working closely with law enforcement, counter-fraud agencies
and commercial lenders. We will always seek out opportunities where we, collectively,
can do more and will continue to prioritise counter-fraud work across the COVID-19
support schemes.</p>
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