Two people have been arrested on suspicion of illegal money lending and money laundering after warrants were carried out in Hertford and Watford.
The England Illegal Money Lending Team (IMLT) working in partnership with Hertfordshire County Council Trading Standards and Hertfordshire Constabulary executed warrants at two residential addresses yesterday (Tuesday, 25 February).
Officers seized large quantities of cash, documentation and electronic devices during the searches.
A further warrant was executed at a business premises in Middlesex where documentation was recovered.
A 54-year-old man from Epping Green and 48-year-old woman from Watford have been released under investigation 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.
“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 hotline on 0300 555 2222, text a report to 078600 22116 or complete an online form here.