How is the Government getting money that was lost back?
Please see below their statement;
We have set up the £100m Taxpayer Protection Taskforce of 1,200 HMRC staff to combat fraud, one of the largest and quickest responses to a fraud risk by HMRC.
13,000 one-to-one fraud and error enquiries were opened in 20/21 and HMRC wrote to 75,000 people. We have so far stopped or recovered £743m of overclaimed grants in 20/21.
The taskforce is expected to recover up to £1.5bn from fraudulent or incorrect payments by end 22-23.
On Bounce Back Loans, the government continues to work actively with the British Business Bank, lenders, and enforcement authorities to recover loans obtained fraudulently. This work has been supported by the Cabinet Office Counter Fraud Function to better identify the level and types of fraud against the scheme, helping lenders tackle fraud effectively.
We are working with enforcement bodies including the National Investigation Service (NATIS) to investigate the most serious cases of fraud and we have always been clear that anyone who defrauds the scheme is at risk of prosecution. So far, NATIS have made 49 arrests in relation to Bounce Back Loan Scheme fraud, while work by the National Crime Agency has resulted in 17 arrests either in stand-alone investigations or as support to NATIS. Enforcement agencies continue to pursue cases of serious fraud. We have invested over £6 million in NATIS to tackle fraud in the Covid loan schemes.
In relation to Bounce Back Loans, the Insolvency Service have achieved 106 director disqualifications, 48 bankruptcy restrictions and 13 companies have been wound up in the public interest.