33

Department lacks clarity on recovered BBLS fraud losses and recovery methods.

Conclusion
We wrote to the Department, following our evidence session on 7 April, to obtain greater clarity on the value of losses to fraud that have since been recovered. We specifically requested the value of losses recovered which were incurred due to suspected fraud within the BBLS. We requested that this be split by method of recovery, distinguishing between amounts recovered by lenders, and those recovered by other enforcement activity. The Department responded that £130 million paid to lenders under the guarantee had subsequently been repaid by them, but it could not confirm how much of this £130 million related to cases of suspected fraud, or how much related to lender recoveries or Department-led enforcement activities.53
Government Response

A response document is linked to this report, dated 18 September 2025. Response attribution to this conclusion has not been verified. Read the response document.

Addressee Bodies
HM Treasury
Timeline
Recommendation age 1.2 yr
Report published 25 Jun 2025