A 47 year-old woman was arrested this morning (20 February 2018) on suspicion of illegal money lending and money laundering, following an operation in Barnet.
The Illegal Money Lending Team (IMLT), working in partnership with London Borough of Barnet Trading Standards and the Metropolitan Police Service, executed a warrant at a residential address in Hendon, seizing documentation and electronic devices.
The suspect is currently in custody and is being questioned by officers from the IMLT.
Tony Quigley, Head of the Illegal Money Lending Team, said: “Loan sharks prey on some of the most vulnerable members in our society and so it’s vitally important we work with key organisations to combat illegal money lending and protect residents.
“Today’s warrant sends out a clear message to all those involved in this type of criminal activity that we will not tolerate loan sharks in our London boroughs. We urge residents who have fallen victim to this crime to contact us in confidence on 0300 555 2222 and help us bring these unscrupulous lenders to justice.”
Councillor Dean Cohen, Chairman of Barnet Council’s Environment Committee, said: “Illegal money lending and money laundering is completely unacceptable and is something our Trading Standards Team is working hard with our partners to eradicate from our borough. We support the action taken today and hope this serves as a warning to all residents involved in illegal activities such as this.”
Nationally, Illegal Money Lending Teams have secured more than 382 prosecutions for illegal money lending and related activity, leading to nearly 329 years’ worth of custodial sentences. They have written off £73.7 million worth of illegal debt and helped over 28,000 people.
To report a loan shark:
- Call the 24/7 confidential hotline on: 0300 555 2222
- Text a report to: 078600 22116
- Visit: www.stoploansharks.co.uk
- Email: firstname.lastname@example.org
- Private message: www.facebook.com/stoploansharksproject