A man was arrested on suspicion of illegal money lending and money laundering offences following an operation in Bradford this morning (29th March).
The England Illegal Money Lending Team (IMLT) worked in partnership with officers from West Yorkshire Police to execute a warrant at an address near the City Centre. Officers seized a quantity of cash and an electronic device during a search of the property.
The suspect was taken into custody and is being questioned by investigators.
The IMLT works in partnership with West Yorkshire Joint Services Trading Standards to investigate and prosecute illegal money lenders.
Tony Quigley, Head of the Illegal Money Lending Team 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 bitten by a loan shark.
“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. We will help you escape the clutches of these ruthless criminals.”
Linda Davis, West Yorkshire Trading Standards Manager said “The work of the Illegal Money Lending Team is critical in protecting vulnerable people in local communities, even more so during a time of widespread economic uncertainty where increased financial insecurities create greater opportunities for loan shark activities. We welcome the Team’s work across West Yorkshire, protecting our communities and supporting victims of illegal money lending.”