UK's Lloyds Banking says $350 million in COVID loans were fraudulent

LONDON, England: Lloyds Banking Group has reported more than $348 million of suspected fraud linked to COVID-19 recovery loans for small businesses, making it the worst hit among the UK's largest banks.

British banks overall classified some 1.1 billion pounds worth of the emergency lending
scheme, known as "bounce back" loans, as fraudulent, data published this week by Britain's
Department for Business, En