64-year-old man arrested in Blackpool on suspicion of being a loan shark
A 64-year-old man has been cautioned after he was arrested on suspicion of illegal money lending following an operation in Blackpool.
The England Illegal Money Lending Team (IMLT) worked in partnership with officers from Lancashire Police to execute a warrant at an address in the Warbreck area on Wednesday, January 15, 2025
The suspect was questioned by IMLT investigators and has now been given a caution.
The IMLT works in partnership with Blackpool Council Trading Standards Service to investigate and prosecute illegal money lenders. Dave Benbow, acting head of the IMLT, said: “We will not tolerate illegal lending in England and we continue to work with our partners across the country to tackle this criminal activity.
“If you think you, or anyone you know, might have borrowed from an illegal lender, then you can contact our team in complete confidence.”
There are up to 1.08 million people in debt to loan sharks in England, according to figures from the Centre for Social Justice (CSJ).
The IMLT was created in 2004 and since then has supported over 32,000 people and written off over £91.3 million worth of illegal debt, securing over 427 prosecutions for illegal money lending, leading to over 609 years in jail.
Anyone who has been affected by illegal money lending should call the Stop Loan Sharks 24/7 Helpline on 0300 555 2222 or access support online at www.stoploansharks.co.uk. Live Chat is available on the website from 9am to 5pm, Monday to Friday.
