Illegal money lending, known as ‘loan sharking’ is a criminal offence. It typically involves unlicensed lenders targeting vulnerable people.
The National Trading Standards Illegal Money Lending Teams investigate and prosecute illegal money lenders working in partnership with local trading standards services.
Teams are made up of specialist investigators and victim support officers from various backgrounds, including Trading Standards, policing and debt advice. They have secured hundreds of prosecutions for illegal money lending and related activity, written off millions of illegal debt and helped over 20,000 people.
Report a loan shark
More information on how to report a loan shark, or illegal money lending, is available on the GOV.UK website.