Crimestoppers
Fearless
Stop loan sharks
Speak up to help protect your family and friends.
If you have borrowed money from a loan shark you haven’t broken the law, they have.
50% of borrowers struggle to pay illegal lenders, often going without food to meet payments.
For those that fall victim to loan sharks, the impact on their mental health is substantial. A study by the Illegal Money Lending Team revealed that over 60% of borrowers said they were in a state of worry, stress, depression or severe anxiety because of their involvement with a loan shark.
Have information on loan sharks operating in your local area? Want to protect your family and friends from illegal lenders? There’s a specialist team that can help.
We’re supporting the Illegal Money Lending Team. Call to speak to them confidentially on the 24/7 helpline 0300 555 2222, email reportaloanshark@stoploansharks.gov.uk or use Live Chat, available 9am-5pm Monday to Friday at www.stoploansharks.co.uk.
Money lenders who aren’t authorised by the Financial Conduct Authority (FCA) are breaking the law. They are known as loan sharks.
Loan sharks often take other illegal action to collect the money they've lent you, such as threatening violence or taking away your credit cards or valuables. In extreme cases, they've been known to force non-payers into prostitution and drug dealing.
A loan shark could be anybody. It could even be someone you know such as:
- A friend
- Someone who is well known on the estate
- People you never would have expected
Watch ‘SHARK’ a myth-busting interactive branching story by Perception Theatre and commissioned by England's Illegal Money Lending Team.
Remember loan sharks often:
- offer you a cash loan but do not give you any paperwork
- take your bank card or passport as security on the loan
- don’t tell you when you will finish paying
- increase the amount you owe even if you are making regular payments
- threaten or use violence to get money from you.
- Pretend to be your friend but turn nasty if you fall behind on payments
Anyone can be a victim of a loan shark – your family, friends, colleagues, neighbours and even you.
Common warning signs include:
- Debt that keeps growing even though they’re making regular payments
- Saying bad things will happen to them if they don’t pay on time
- Feeling afraid or anxious about visitors to their home
- Stopping seeing friends and family – emotionally withdrawing from others
- Handing over all their benefits and money to someone they owe money to
- Handing over personal items (bank card, passport, jewellery) to someone they owe money to
- Receiving threatening text messages about money being owed
- Being forced into having sex or committing crimes to pay off their debts
- Being anxious, depressed, withdrawn and experiencing suicidal thoughts
- Showing signs of physical violence, such as bruises, sprains or cuts
- Not wanting to leave their house and shutting curtains to avoid being noticed
For more advice on how to support someone else who may be a victim of loan shark debts, visit stoploansharks.co.uk
If someone who has lent you money threatens you or is violent, contact the police straight away.
In England, if you think a money lender is operating without being FCA authorised, you can speak in confidence to the Illegal Money Lending Team on their 24-hour helpline on 0300 555 2222. You can also email the team on reportaloanshark@stoploansharks.gov.uk or use Live Chat on the website www.stoploansharks.co.uk (available 9am-5pm, Monday to Friday).
In Scotland, you can speak in confidence to the Scottish Illegal Money Lending Unit (SIMLU) to report an illegal money lender on 0800 074 0878, or report it online to them at https://stopillegallending.co.uk/.
In Wales, you can report concerns about a money lender to the Wales Illegal Money Lending Unit, which operates a 24 hour confidential helpline on: 0300 123 33 11.
In Northern Ireland you can contact the Trading Standards Consumer line, telephone 0300 123 6262.
Learn more about the Illegal Money Lending Team at stoploansharks.co.uk and how they can help you regain control of the loan shark situation.
One victim said “If I hadn’t called the Illegal Money Lending Team helpline I wouldn’t be here today. They supported me and my family throughout the investigation.”
