Addressee: Department for Business and Trade · Source location: Page 14, paragraph 27, point a
In managing the Bounce Back Loan Scheme, by April 2022 the Department should:
a) produce a formal strategy that sets out the longer-term ambitions, objectives and metrics for the impact of successful counter-fraud activity, and brings together its existing fraud risk assessment and counter-fraud actions; fraud risk appetite; and prioritisation of counter-fraud activities and resources based on evidence of cost-effectiveness – updating it as required to take account of any new fraud risks;
Response position:
Accepted
Delivery:
Implemented
· Q2 2022-23
· Confirmed by NAO
Addressee: Department for Business and Trade · Source location: Page 14, paragraph 27, point b
b) develop a robust business case for detecting, preventing, and recovering fraudulent loans, including the economic rationale of its choices for counter-fraud activity; and the scale of resources needed for each activity;
Response position:
Partially accepted
Delivery:
In progress
· Q4 2025-26
· Confirmed by NAO
Addressee: Department for Business and Trade · Source location: Page 14, paragraph 27, point c
c) publish the level it is aiming to reduce fraud losses to, and report against this metric. This level should be based on the Department's expectation of the intended impact of its counter-fraud controls for the detection, prevention and recovery of fraudulent loans over time;
Response position:
Rejected
Delivery:
No implementation status recorded
· Q4 2023-24
· Confirmed by NAO
Addressee: Department for Business and Trade · Source location: Page 14, paragraph 27, point d
d) refresh its fraud risk assessment at least every six months using the best available evidence, including with input from the Government Counter Fraud Function;
Response position:
Accepted
Delivery:
Implemented
· Q1 2022-23
· Confirmed by NAO
Addressee: Department for Business and Trade · Source location: Page 14, paragraph 27, point e
e) evaluate options for controls against any new fraud risks on a cost-benefit basis, using this evidence to introduce controls within two months of identifying any new fraud risks; and
Response position:
Accepted
Delivery:
Implemented
· Q4 2024-25
· Confirmed by NAO
Addressee: Department for Business and Trade · Source location: Page 14, paragraph 27, point f
f) set-out key performance measures for each fraud control, and measure performance against them regularly, adapting the approach where necessary.
Response position:
Accepted
Delivery:
Implemented
· Q4 2024-25
· Confirmed by NAO
Addressee: Department for Business and Trade · Source location: Page 14, paragraph 27, point g
In making changes to business support schemes the Department should:
g) revisit the scheme's business case, paying particular attention to the impact of changes on fraud and value for money. Where the Department accepts an increased risk of fraud and error as a trade-off with other policy objectives, the Department must lay this out explicitly. The requirement to consider trade-offs applies equally to new schemes.
Response position:
Rejected
Delivery:
No implementation status recorded