Protect yourself against scams
Loan sharks
When people are in desperate need of some quick cash, loan sharks may seem like the answer – but they're not. Loan sharks are criminals. They don't care about a person’s situation; they just want to make money out of them. They will pretend to be their friend and make them feel that they are helping them out, but they are not. These criminals charge extortionate interest rates and if someone can't pay back the loan on time, they may threaten to take their valuables or hurt someone close to them. The consequences of borrowing from an illegal lender can be devastating and people risk digging themselves into a deeper financial hole.
The Illegal Money Lending team (also known as Stop Loan Sharks) can investigate and prosecute illegal money lenders, whilst supporting those who have borrowed money from a loan shark.
Report a loan shark
Safely report through the online loan shark reporting form (stoploansharks.co.uk), or call 0300 555 222.
Last updated: 11/09/2024 11:14
