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Levels of fraud from taxpayer-backed Covid-19 loan schemes are around five times higher than typical figures, according to senior UK bankers. Bosses at Lloyds and Santander told MPs on the Treasury Select Committee that around 1% of bounce back loans have been taken out fraudulently. David Oldfield, chief executive of Lloyds Commercial Banking, said his bank has seen 3% of applications rejected, with 2% of those approved later turning out to be fraudulent. Around two-thirds have subsequently been frozen. He said: “That’s still a large number but as a percentage that’s about five times h...

Levels of fraud from taxpayer-backed Covid-19 loan schemes are around five times higher than typical figures, according to senior UK bankers. Bosses at Lloyds and Santander told MPs on the Treasury Select Committee that around 1% of bounce back loans have been taken out fraudulently. David Oldfield, chief executive of Lloyds Commercial Banking, said his bank has seen 3% of applications rejected, with 2% of those approved later turning out to be fraudulent. Around two-thirds have subsequently been frozen. He said: “That’s still a large number but as a percentage that’s about five times h...

Levels of fraud from taxpayer-backed Covid-19 loan schemes are around five times higher than typical figures, according to senior UK bankers. Bosses at Lloyds and Santander told MPs on the Treasury Select Committee that around 1% of bounce back loans have been taken out fraudulently. David Oldfield, chief executive of Lloyds Commercial Banking, said his bank has seen 3% of applications rejected, with 2% of those approved later turning out to be fraudulent. Around two-thirds have subsequently been frozen. He said: “That’s still a large number but as a percentage that’s about five times h...

Levels of fraud from taxpayer-backed Covid-19 loan schemes are around five times higher than typical figures, according to senior UK bankers. Bosses at Lloyds and Santander told MPs on the Treasury Select Committee that around 1% of bounce back loans have been taken out fraudulently. David Oldfield, chief executive of Lloyds Commercial Banking, said his bank has seen 3% of applications rejected, with 2% of those approved later turning out to be fraudulent. Around two-thirds have subsequently been frozen. He said: “That’s still a large number but as a percentage that’s about five times h...

Driver in 2013 Lebanon crash that killed pregnant woman and fiance paroled Robert Dellinger is flanked by his attorneys Lucy Karl and Steve Gordon while his sentence is read by the judge in Grafton Superior Court in North Haverhill, N.H. on April. 2, 2015. (Valley News - Jennifer Hauck) Copyright Valley News. May not be reprinted or used online without permission. Send requests to permission@vnews.com. Modified: 12/11/2020 10:35:37 PM CONCORD — A former Fortune 500 executive from Sunapee who drove across the median on Interstate 89 in Lebanon seven years ago, killing a pregnant woman and he...