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South Woodhammer 11:55 Sun Oct 18
Bounce back Loan Fraud

Spoke to a bank manager recently who was talking about the large number of Romanian and Albanian ‘business owners’ who were recipients of our generous governments bounce back loans. The 50 grand loans were in and out of their bank accounts within 24 hours .... and the same people were often getting multiple loans in different company names , seems like they were buying up shell companies off the shelf left right and centre and getting £50k loans from government for them. He said that most Essex branches of his bank across areas like Southend , Basildon , Grays , Romford etc saw the same thing , London much worse. Banks were told by government to advance these loans on a ‘no questions asked ‘ basis and the banks themselves aren’t accountable as its underwritten by government ... actually you , me and every other taxpayer.
Its a gold rush of fraud on an industrial scale absolutely staggering sums of money that has disappeared from the UK public purse never to be repaid. They’re already saying that at least 50pc of what was paid out has gone to fraudsters , up to £26 billion... and it’s overwhelmingly been done by organised criminal gangs from overseas...Romanians , Albanians , Asians and Turkish. Sometime within the next 12 months when the scale of this starts to unravel and the UK taxpayers realise that they’re footing the bill for Rishi Sunak’s Santa Claus profligacy I doubt he’ll be too popular..more like Public Enemy number one. It’s another mind blowing incompetence by the worst government this country has ever had by a country mile.

Vexed 12:00 Sun Oct 18
Re: Bounce back Loan Fraud

Yours is a rather sensationalist view of the scale of it, but there has been rather a lot of fraud happening with this apparently. Give them their dues, they never miss an opportunity.

Mike Oxsaw 12:00 Sun Oct 18
Re: Bounce back Loan Fraud

I'm sure I remember the government saying that the reason these payments were rather slower than expected in their delivery was that checks & balances to prevent such fraud were being put in place.

Should have made the Conservative party & ALL it's members directly responsible for the loans; that would have had any fraud stamped on PDQ.

RM10 12:01 Sun Oct 18
Re: Bounce back Loan Fraud

Country is fucked, tory cunts yet again Making out they are for the country, and a lot of you mugs on here support them

Davenport 12:07 Sun Oct 18
Re: Bounce back Loan Fraud

RM10 12:01 Sun Oct 18

Side of Ham 12:13 Sun Oct 18
Re: Bounce back Loan Fraud

Let’s get this right ALL parties apart from the far right nutters would have been On the end of this scam, Labour probably would have prioritised Romanian applications.....

Fortunes Hiding 12:26 Sun Oct 18
Re: Bounce back Loan Fraud

Romanians and Albanians?

I’d be disappointed if Indians didn’t have a go.

stewie griffin 12:27 Sun Oct 18
Re: Bounce back Loan Fraud

RM10 12:01 Sun Oct 18
Re: Bounce back Loan Fraud

Country is fucked, tory cunts yet again Making out they are for the country, and a lot of you mugs on here support them

Makes precisely zero sense in the context of this thread. Handing out money to immigrants, layabouts and ne'er do wells is left wing/labour policy. You actively vote for it. So I'm not sure how you can start moaning about it now.

Just shows how ingrained and pathetic peoples political allegiances are. Objectung to something you vote for because its done by someone you don't like is absolutely preposterous. Newsflash- they're all cunts.

eusebiovic 12:32 Sun Oct 18
Re: Bounce back Loan Fraud

It's unforgivable to change allegiance to a football team.

It's unforgivable NOT to change allegiance to a political party or even invent a new one with a far more positive set of parameters if the current lot are an obvious self-serving shitshow.

That is all.

I drink my tea.

BRANDED 12:33 Sun Oct 18
Re: Bounce back Loan Fraud

It goes to show their ability to see an opportunity is better than others and the ability of bankers to manage their business is poor. Assuming any of it was true.

Side of Ham 12:35 Sun Oct 18
Re: Bounce back Loan Fraud

Stewie & eusebiovic with two great posts hitting the nail on the head to these party political biased cunts.

Sven Roeder 12:38 Sun Oct 18
Re: Bounce back Loan Fraud

Nice try stewie
Yes, supporting people in need could probably be described as a ‘left wing’ policy.
Just as turning a blind eye to corporate fraud could be described as a Tory policy

This it seems is just incompetence plain and simple if true.
I understood businesses applying for assistance had to produce previous years accounts & evidence of trading
If you could roll up with a newly purchased shelf company & put £50k in your back pocket with no evidence of trading or employing staff that’s just laughable naivety from a bunch of incompetents
I suspect the upper reaches of government were too busy lining up, without tender or scrutiny, multi million pound contracts for their pals.

Full Claret Jacket 12:44 Sun Oct 18
Re: Bounce back Loan Fraud

Makes me wonder why they keeping phoning me about my Amazon Prime account when this fraud is so easy. Or you could just create a company and get a multi-million quid PPE contract you never have to fulfill if you know the right people.

stewie griffin 12:44 Sun Oct 18
Re: Bounce back Loan Fraud

There is no try, sven. Everything i said is correct. In the meantime, you may wish to spend some time actually aligning with what your current brainwashed view is meant to be. The OP is about tory over generosity and profligacy. Your lot, led by the scumbag Burnham, believe they haven't had enough freebies yet.

Do keep up.

oioi 12:47 Sun Oct 18
Re: Bounce back Loan Fraud

Sauce? Bank manager down the pub?

As you were......

BRANDED 12:48 Sun Oct 18
Re: Bounce back Loan Fraud

You could be SERCO and do a nice multi billion deal with mates with no penalties for fucking up?

Alex G 1:03 Sun Oct 18
Re: Bounce back Loan Fraud

So why are the Romanian and Albanian criminal gangs so much more efficient at this type of fraud than British criminal gangs?

gph 1:08 Sun Oct 18
Re: Bounce back Loan Fraud

Bugger, I was hoping for an instruction manual...

Sven Roeder 1:09 Sun Oct 18
Re: Bounce back Loan Fraud

It sounds like incompetence to me
Giving away public money without even basic checks.
Nothing to do with ‘generosity’

The government is trying to impose open ended restrictions on the north that will bankrupt businesses and destroy people’s incomes.
The mayor of Manchester is questioning how people are meant to survive in that situation
Millionaire Boris & Hedge Fund Rishi have no conception of what that means

South Woodhammer 1:37 Sun Oct 18
Re: Bounce back Loan Fraud

From the BBC website. Great work Rishi.

The government was warned in May that its flagship loan scheme to help small firms affected by Covid was at "very high risk of fraud" from "organised crime", it has emerged.

The state-owned British Business Bank (BBB) which supervises the Bounce Back Loan Scheme, twice raised concerns. A BBC report revealed that criminals were setting up fake firms to get loans worth tens of thousands of pounds. The Bounce Back Loan Scheme has already paid out more than £38bn.

In early May, just two days before the scheme launched, the chief executive of the BBB, Keith Morgan, wrote of the "very significant fraud and credit risks", adding that it was "vulnerable to abuse by individuals and organised crime".

The bank, he said in a letter to Business Secretary Alok Sharma, could not guarantee "robust controls".

Other concerns included an "extensive reliance on customer self-certification" and "potential for market distortion". He said that the BBB had commissioned a review of the scheme by accountants PwC, which had classified its fraud risk as "very high".

BRANDED 1:42 Sun Oct 18
Re: Bounce back Loan Fraud

If these people are that clever they deserve to rip anyone off. They are hardly going to be kebab shop owners.

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