Covid fraud: Moment man finds out he's a victim of fraud
A BBC investigation has found criminals are setting up fake businesses on an industrial scale and successfully applying for government-backed Covid emergency loans - with no intention of paying the money back.
The Bounce Back Loan Scheme - or BBLS - was announced in April and is designed to help small firms stay afloat during the crisis.
Mark Telling had a £50,000 loan taken out in his name without his knowledge.
The Treasury insists banks are taking "appropriate precautions" and the government would take "criminal action against the most serious cases."