Stop Loan Sharks Wales is operated by the Wales Illegal Money Lending Unit. Our team was established in 2008, and as Stop Loan Sharks Wales we are the agency which investigates and prosecutes loan sharks throughout Wales – and also protects and supports people who have borrowed money from loan sharks.
The UK Government funds us to carry out this vital work, with a team of specialist investigators and client liaison officers.
We work in partnership with local authorities, the police, advice agencies, charities, and housing providers. With these partners, we raise awareness of the loan shark problem, and work with them to assist those who may be vulnerable to loan shark activity or may already have been preyed on.
Since 2008, we’ve supported hundreds of people who have suffered as a result of this crime and written off hundreds of millions of pounds in illegal debt.
Illegal Money Lending
Illegal money lending is a criminal offence, and loan sharks often target vulnerable people. If you or someone you know are involved with illegal money lending, coming forward is the right thing to do.
Loan sharks lend money and charge interest on the loan without the legal authority. They operate within our communities often taking advantage of vulnerable people.
Not always violent criminals, loan sharks seem friendly and helpful when you in need. They can be a small lender taking advantage of friends or family, a rogue landlord or employer, a work colleague or a member of a community group.
Warning Signs
Loan sharks are not always easy to recognise. Look carefully for these signs, they may tell you that you are dealing with one.
Threatening Behaviour – While they often start out friendly, a loan shark can turn threatening if you miss payments.
Word of Mouth – Loan Sharks do not usually advertise: you hear them from other people.
No Paperwork – There is normally little or no paperwork involved, so you don’t know how much you owe.
Collateral Holdings – A loan shark may keep your cards, passport or other valuables as security.
Increasing Debt – The debt keeps growing even though you keep paying.
Support
Our priority is always the safety and welfare of people who have borrowed money from a loan shark. We have specialist officers who focus on supporting and assisting the victims of this crime. We encourage and support the use of safe affordable credit, such as that offered by Credit Unions.
Prosecution
We are the government agency tasked with investigating and prosecuting loan sharks in Wales. Our team of investigators includes specialist financial investigators and has a wide range of expertise in gathering evidence which will lead to the successful prosecution of a loan shark.
Training
We offer free training to help front line workers recognise loan shark activity and identify potential victims.
You will develop:
- greater awareness of the impacts of illegal money lending on vulnerable people,
- an ability to seek expert help and advice, and
- confidence to identify signs of people targeted by loan sharks.
Your training will be tailored to the requirements of your organisation. From several days of training to 1-hour sessions or even shorter if time is limited, and flexible delivery, in person or virtually, whichever way suits you best.
Events
We are also keen to attend any advice/community events which provide us with an opportunity to warn service users and the public of the danger of loan sharks.
Let Us Help You
Stop Loan Sharks Wales is here to support victims and protect people from illegal lending and related crimes.
If you or someone you know is involved with a loan shark, contact us for information and support.
Our top priority is your wellbeing and safety.
Contact Us Anytime:
24hr Hotline: 0300 123 3311
E-mail stoploansharkswales(at)valeofglamorgan.gov.uk
Website: stoploansharkswales.co.uk
facebook.com/stoploansharkswales
