A man and a woman were arrested today on suspicion of illegal money lending following an early-morning operation in Wirral.
The England Illegal Money Lending Team (IMLT) worked in partnership with officers from Merseyside Police to execute a warrant at an address in the Parkgate area.
The suspects – a man aged 45 and a woman aged 57 – were taken into custody to be questioned by IMLT investigators. Officers seized mobile phones, documentation and a quantity of cash.
The IMLT works in partnership with Wirral Trading Standards Service to investigate and prosecute illegal money lenders.
Dave Benbow, head of the IMLT, said: “Illegal money lenders are often well known in communities – they appear to be friendly, but once they have lent money they will often add huge charges and can use threats or violence to force people to repay.
“This criminal activity will not be tolerated in England, and we will continue to work with our partners to take action against those who blight our communities in this way. If you think you have borrowed from an illegal lender or you have been affected by illegal lending in any way, please get in touch with our team for free, confidential support.”
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 a loan shark include:
- Giving you no paperwork or agreement on a loan
- Keeping items until the debt is paid such as your bank card or passport
- Adding more interest or charges so the debt never goes down
- Using intimidation or violence if you don’t pay
Anyone who has been affected by illegal money lending should call the Stop Loan Sharks 24/7 confidential 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.
