Three men employed by a London financial institution have been arrested by the Complex Financial Crime Team, part of the National Crime Agency, in relation to an investigation into fraudulent claims for UK government "bounce back" loans.

It is alleged that the men used fraudulent data and documents to claim GBP6 million in loans designed to help small and medium-sized businesses recover from the impact of the Covid-19 pandemic. The three men are accused of using "specialist knowledge" to facilitate the fraud.