Stop Loan Sharks
The England Illegal Money Lending Team work as Stop Loan Sharks.
Posted on 10 February 2017
The England Illegal Money Lending Team (IMLT) was set up in 2004. Initially created as a pilot scheme in Birmingham to investigate loan sharks it had such an impact on illegal money lending it received further government funding.
Today the England IMLT investigates and prosecutes illegal money lenders while supporting those who have borrowed money from a loan shark. Illegal money lending teams in Scotland and Wales ensure the entire UK is working to stop loan sharks.
Each team is comprised of specialist investigators and liaise officers who have previously worked for the police, trading standards, and debt advice services. Together the investigators and liaise officers work to prosecute illegal money lenders while supporting people who owe money to a loan shark
The England IMLT work as Stop Loan Sharks within local communities, within education, and with partner agencies including the police. Since 2004, the England IMLT have supported over 25,000 people and written off over £63.5m of debt.
It's estimated that there are 310,000 people in debt to illegal money lenders in the UK. The illegal money lending teams within the UK work to raise awareness of what illegal money is while investigating and prosecuting loan sharks.