A 34-year-old man has been arrested on suspicion of illegal money lending following an operation in Hull.
The England Illegal Money Lending Team (IMLT) worked in partnership with officers from Humberside Police to execute a warrant at an address in the Anlaby area on Tuesday, December 12.
Officers seized electronic devices and the suspect was taken into custody and questioned by investigators. He is helping with inquiries.
The IMLT works in partnership with East Riding Council Trading Standards to investigate and prosecute illegal money lenders.
Tony Quigley, head of the IMLT, said: “Illegal money lending is a scourge on our communities, and we will continue to work with our partners to take action against those who target the most vulnerable in this way.
“If you have been offered a cash loan, then been threatened when you couldn’t pay, had your bank card taken from you 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 then contact our team in complete confidence for expert advice and support.”
There are an estimated 1.08 million people in debt to loan sharks in England according to the Centre for Social Justice.
Illegal lenders come in many different guises and can be hard to spot. Signs to look out for include: Being given no paperwork or information about a loan, having to hand over items like bank cards or a passport, ever-increasing interest and charges, and being threatened or intimidated if you struggle to pay.
Anyone with concerns about illegal money lending can contact the Stop Loan Sharks 24/7 helpline in confidence on 0300 555 2222 or access support online at www.stoploansharks.co.uk. Live Chat is available on the website between 9am and 5pm, Monday to Friday.