During Talk Money Week 2025, Wave Community Bank partnered with the Illegal Money Lending Team (IMLT) to deliver two free, 30-minute webinars aimed at helping local residents and employers understand the dangers of loan sharks and how to protect themselves and their communities.
The sessions offered practical guidance on recognising and responding to illegal money lending. Loan sharks, illegal lenders who may initially appear helpful, often operate with extortionate interest rates, no paperwork, and threats or violence if repayments are missed.
Drawing on insights from Wave Community Bank’s employer partners, including local authorities across Kent, Ashford, and Sussex, the webinars explored:
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What a loan shark is and how they operate
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How to spot signs that someone may be a victim
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The impact of illegal lending on individuals, families, and communities
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How employers can protect staff and strengthen workplace policies
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Where to get help and report illegal lenders
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How saving directly from wages with Wave Community Bank can reduce the need for high-risk lenders
The sessions also highlighted safe and ethical financial options available locally, empowering participants to make informed decisions and support their communities.
For those who couldn’t attend or want to revisit the information, slides from both webinar sessions are available to download. Employers can also add the resources to their intranet or circulate to colleagues to raise awareness within their teams.
Wave Community Bank continues to support ethical financial practices, providing resources that help local residents and businesses stay safe from illegal lending.
