Banks seize cash from bounce back loan fraud accounts


Banks seize cash from bounce back loan fraud accounts

HSBC, Barclays, NatWest and Lloyds Banking Group have all begun freezing business accounts linked to suspected fraud in relation to emergency bounce back loans. The banks have so far seized sums of up to £50,000 from the accounts of hundreds of customers. The Treasury issued a warning to banks last Thursday to remind them of the importance of fraud checks, according to a Whitehall source. A replacement for the bounce back loans scheme is likely to be detailed in the Budget in March.


Read more: The Mail on Sunday

 

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