BROMSGROVE has been biting back against loan sharks this week as part of a campaign to raise awareness of the dangers of borrowing from illegal money lenders.
The England Illegal Money Lending Team (IMLT) is working in partnership with Bromsgrove District Council and West Mercia Police to tackle loan sharks in Bromsgrove.
The ‘bite back’ week, which ran from Monday, was aimed at raising awareness of the dangers of borrowing from illegal money lenders, as well as directing victims to the appropriate help and support available through the IMLT.
Tony Quigley, Head of the England IMLT labelled illegal money lending a despicable crime which affected the most vulnerable in society’.
“We are pleased to be working with our partners to launch a week of action to raise awareness of this crime and the help that’s available to victims.”
A loan shark is someone who lends money without the correct authorisation from the Financial Conduct Authority (FCA) and often target low-income and desperate families, preying on struggling individuals and exploiting them for personal financial gain.
PC Simon Albutt, Safer Neighbourhood Officer, said the police was pleased to be working with the IMLT on the project as loan sharks often targeted those who struggled to access credit and loans.
“The reason behind choosing to do a bite back week in October is because most people start their Christmas shopping this month and with the festive season fast approaching, families might begin to feel extra pressure to make purchases they can’t afford.”
To report a loan shark, call the 24/7 confidential hotline 0300 555 2222 or text a report to 078600 22116.
Alternatively, visit www.stoploansharks.co.uk, e-mail [email protected] or send a private message on www.facebook.com/stoploansharksproject.
