A 48-year-old woman was arrested today (THURSDAY MARCH 27) on suspicion of illegal money lending following an early-morning operation in north London.
The England Illegal Money Lending Team (IMLT) worked in partnership with officers from the Metropolitan Police to execute a warrant at an address in the Barnet area.
Officers seized electronic devices and the suspect was taken into custody to be questioned by IMLT investigators.
The IMLT works in partnership with the London Borough of Barnet Trading Standards Service to investigate and prosecute illegal money lenders.
Dave Benbow, head of the IMLT, said: “Illegal money lending will not be tolerated in England, and we work with partners across the country to take action against those who blight our communities in this way.
“If you’ve been offered a loan, been threatened or intimidated when you couldn’t pay, had a bank card taken 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 loan shark activities then contact our team in complete confidence.”
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 IMLT was created in 2004 to investigate and prosecute loan sharks and support borrowers. Since then, it has supported over 32,300 people, and successfully prosecuted 428 loan sharks, leading to 609 years in jail.
Anyone who has been affected by illegal money lending should call the Stop Loan Sharks 24/7 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.
