Loan Sharks
A "Loan Shark" is someone who lends money in the course of trade or business without the correct permission from the Financial Conduct Authority (FCA). Put simply, it is someone who does not have the correct permission to lend money.
This is not a trivial problem - there are 1.08 million people in debt to a loan shark in England alone.
The penalty for illegal lending is up to 2 years in prison or a £5000 fine.
Are you a victim of a Loan Shark, or know someone who may be a victim?
If you are, or have been, the victim of a Loan Shark, you can visit the website of the England Illegal Money Lending Team (IMLT) at https://www.stoploansharks.co.uk/
Have you see an advert for cheap loans locally?
If you see an advert for a cheap loan, for example in a local shop window giving a mobile number to contact, then you should take a photo if safe to do so and then report it online in confidence and the team will take it from there.