Personal Loan

A financial institution may fairly load a negative fraud marker on the National Fraud Database if they have clear, relevant and rigorous evidence that a financial crime was committed and the customer was complicit in receiving the fraudulen

Lenders must conduct reasonable and proportionate affordability checks appropriate to the loan value and lending stage, but are not required to obtain detailed expenditure breakdowns for smaller loans.

Unregulated Bounce Back Loans are self-attested schemes where lenders are not required to perform due diligence checks and cannot be held responsible for the scheme's design or third-party misrepresentation.