Two people were arrested today on suspicion of illegal money lending following an early-morning operation in north London.
The England Illegal Money Lending Team (IMLT) worked in partnership with officers from the Metropolitan Police to execute a warrant at an address in the Golders Green area. A business premises in the Stanmore area was also searched.
Officers seized documents and electronic devices and the two suspects, a 45-year-old woman and a man aged 20, were taken into custody to be questioned by IMLT investigators.
The IMLT works in partnership with the London Borough of Barnet Council and Brent and Harrow Trading Standards Service to investigate and prosecute illegal money lenders.
Dave Benbow, head of the IMLT, said: “Illegal money lending will not be tolerated in England, and we work with partners across the country to take action against those who blight our communities in this way.
“If you’ve been offered a loan, been threatened or intimidated when you couldn’t pay, had a bank card taken as security or if what you owe keeps growing even though you are making payments, then you may well have been targeted by an illegal lender.
“If you, or anyone you know, has experienced any of these things or has any knowledge of loan shark activities then 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 signs of an illegal lenders include:
- Giving you no paperwork or agreement on a loan
- Refusing to give you information about the loan
- Keeping items until the debt is paid such as your bank card or passport
- Taking things from you if you don’t pay on time
- Adding more interest or charges so the debt never goes down
- Using intimidation or violence if you don’t pay
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. There is a Live Chat facility on the website, and the team can also be contacted via WhatsApp on 07700 102773. The Live Chat and WhatsApp services are monitored from 9am to 5pm, Monday to Friday.
