A 47-year-old man was arrested on suspicion of illegal money lending in Sunderland today (TUESDAY APRIL 1st 2025) following an early-morning operation.
The England Illegal Money Lending Team (IMLT) worked in partnership with officers from Northumbria Police to execute a warrant at an address in the Southwick area.
Officers seized electronic devices and documentation.
The suspect was taken into custody and questioned by IMLT investigators.
The IMLT works in partnership with Sunderland Council Trading Standards Service to investigate and prosecute illegal money lenders.
Dave Benbow, head of the IMLT, said: “We work with our partners across the country to take action against those who blight our communities by carrying out illegal lending activities.
“We would urge anyone who has been affected by illegal lending, or knows someone who has, to get in touch with our team in confidence so that we can offer them support and start an investigation.
“We realise it can be a difficult first step, but our team of experts are here to help, not to judge.”
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 warning signs of an illegal lender 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
In the past 20 years, the IMLT has made hundreds of arrests and secured 427 successful prosecutions, with illegal lenders locked up for more than 609 years. More than £91.6 million in illegal debt has been written off, and around 32,300 borrowers have been supported.
Many illegal money lenders are well known within their communities and are often introduced to borrowers through friends or family members. They are unregulated and give loans with no paperwork, charging extortionate interest rates. They often resort to threats, intimidation and even violence if repayments are not made.
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.
