Anti-loan shark operation in Birmingham

By on 06/11/2012 in News

A 43-year-old man and a 41-year-old woman have been arrested on suspicion of illegal money lending, following an operation in Birmingham this morning.

The England Illegal Money Lending Team, who are hosted by Birmingham City Council executed a warrant at a residential property in Handsworth seizing substantial amounts of documentation and cash.

The suspects are currently in custody being questioned by officers from the team.

Councillor Barbara Dring, chairman of the licensing and public protection committee at Birmingham City Council, which oversees the England Illegal Money Lending Team, said: “Loan sharks are motivated only by greed and we are continuing to crack down on this crime. They extort and exploit the vulnerable, trap people in spiralling debt and cause nothing but misery. We would urge people to turn away from loan sharks and report the crime if they have been a victim. Call 0300 555 2222 to speak to an investigator from the England Illegal Money Lending Team in confidence.”

Nationally the Illegal Money Lending Teams have secured 218 prosecutions for illegal money lending and related activity, leading to almost 140 years worth of custodial sentences. They have written off almost £40 million worth of illegal debt and helped over 19,000 victims.

To report a loan shark:

Call the 24/7 confidential hotline 0300 555 2222
Text 'loan shark + your message' to 60003
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Note to editors: Funded by the Department of Business Innovation and Skills, the Stop Loan Sharks project consists of three illegal money lending teams: England, Scotland and Wales. Working in partnership with local Trading Standards Authorities up and down the country, the England team consists of specialist officers who investigate and prosecute illegal money lending and related activity and LIAISE officers who support victims and raise awareness of the dangers of borrowing from illegal money lenders. The project piloted in 2004, and expanded in 2007. So far the team has secured more than 218 prosecutions leading to custodial sentences in excess of 140 years.

Sarah-Jane Lynch - Communications Officer
Illegal Money Lending Team - Trading Standards

Telephone: 0121 693 1030 or 07881 617119

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