Suspected loan shark arrested in Bradford
A 45-year-old man has been arrested in Bradford on suspicion of illegal money lending.
The England Illegal Money Lending Team (IMLT) worked in partnership with officers from West Yorkshire Police to execute a warrant at an address in the Wibsey area on Thursday, September 28.
Officers seized electronic equipment and the suspect was taken into custody for questioning.
The IMLT works with West Yorkshire Trading Standards to investigate and prosecute illegal money lenders.
Tony Quigley, head of the IMLT, said: “Illegal money lending will not be tolerated, and we will continue to work with our partners to take action against those who blight our communities in this way.
“If you have been offered a cash loan, 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 or has any knowledge of illegal lending activity then contact our team in complete confidence.”
In its report Swimming with Sharks, the Centre for Social Justice (CSJ) reveals that there could be up to 1.08 million people in debt to loan sharks in England.
Signs to look out for include:
- Being given no paperwork or agreement on a loan
- Being given no other information about the loan
- The lender keeping items like bank cards or passports
- Interest being added so the debt never reduces
- The lender using threats or violence if you can’t 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.
