A 23-year-old man has been arrested on suspicion of illegal money lending and money laundering offences, following an operation in Doncaster.
The England Illegal Money Lending Team (IMLT) working in partnership with Doncaster Council Trading Standards and South Yorkshire Police executed a warrant at a residential address near the town centre yesterday (Wednesday 29 January).
Officers seized documentation and electronic devices during a search of the property.
The suspect was questioned and subsequently released on bail pending further enquiries.
Tony Quigley, Head of the Illegal Money Lending Team said: “We are committed to working in partnership with all support agencies, so together we can crackdown on those individuals who target the vulnerable in our communities.
“Our advice to residents in need of financial support would be to turn to a Credit Union rather than a loan shark who could take advantage and charge extortionate interest rates.”
Councillor Chris McGuinness from Doncaster Council said: “We were pleased to assist in the arrest of this person.
“Individuals of this nature who prey on people in difficult circumstances are most unwelcome in the area and we hope this serves as a stern warning to others.
“If you are the victim of a loan shark – or know someone who is – then please report it immediately.”
Nationally, Illegal Money Lending Teams have secured more than 394 prosecutions for illegal money lending and related activity, leading to nearly 480 years’ worth of custodial sentences. They have written off £74.9 million worth of illegal debt and helped over 29,000 people.
To report a loan shark, call the 24/7 confidential helpline on 0300 555 2222, text a report to 078600 22116 or complete an online form here.