Every year the England Illegal Money Lending Team (IMLT) runs Stop Loan Sharks Week between 24th-31st October.
This year’s theme is ‘People pretending to be something they are not’.
This theme has been picked as 56% of people the IMLT have supported over the past year believed the illegal lender was their friend at the time at which they took out the loan and so they want to encourage people to question if this is the case.
They have also heard of lenders pretending to be associated with legal lenders that have closed and want to highlight that there are places to go to check.
If you are ever worried that you have been caught out by a loan shark then report it here straight away. Remember it’s not a crime to borrow from a loan shark but it is a crime to be a loan shark. The Stop Loan Sharks service is completely confidential and by reporting them, you are helping the IMLT to take a step closer to stopping this illegal activity.
Throughout Stop Loan Sharks week, you will see posts on our social media channels reminding people not to borrow money from unregulated lenders. Please help us get this important message out by sharing it.
