11:36 am May 16, 2022
Two suspected loan sharks were arrested in Hemel Hempstead on Tuesday May 10.
Officers from Hertfordshire Police and England’s Illegal Money Lending Team (IMLT) executed a search warrant at an address in the town, at which documents and electronic devices were discovered.
A 40-year-old man and a 35-year-old woman were taken into custody and questioned.
They have since been released while police continue their investigation.
Tony Quigley, Illegal Money Lending Team Leader, said: ‘We are determined to warn residents of the dangers of loan sharks and will work with partners to take action against them.
“The loan sharks are criminals who prey on the most vulnerable people in our communities.
“They trap their victims in a spiral of debt and often resort to intimidation and violence.
“We will not tolerate such activity in Hertfordshire and urge anyone with information about loan sharks to report it as soon as possible.”
Meanwhile, Mike MacGregor, community protection manager for the Hertfordshire County Council Trading Standards, said: “We know that the rising cost of living is putting pressure on household finances, but we are actively encouraging residents to use reliable sources of funding to avoid falling prey to loan sharks.
‘There are a number of credit unions in Hertfordshire which provide access to low cost and reputable loans, for example Dacorum First Credit Union based in Hemel Hempstead.’
Anyone concerned about illegal money lending can contact the Stop Loan Sharks helpline on 0300 555 2222 or access online support.