Bounce Back Loan Scheme Arrest

The Metropolitan Police have investigated a number of ‘mule’ accounts being used to launder thousands of pounds in government-backed loans and transferring the money in to cryptocurrency.

A woman has now been arrested for fraudulently applying for multiple Bounce Back Loans. Detectives have successfully recovered over £100,000 and warn the public to be mindful of the financial information they share, as details may used by fraudsters to launder illegally obtained funds. Read more here.

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National Anti Fraud Network