Christmas 2018 Loan Shark Campaign
Christmas campaign launched to crackdown on loan sharks
Loan sharks are being targeted as part of a nation-wide social media Christmas campaign.
With the festive season fast approaching, the Illegal Money Lending Team (IMLT) are urging families not to borrow from loan sharks amid fears a small loan could lead to massive repayments in the New Year.
The IMLT – a national team that investigate and prosecute loan sharks – work closely with the Financial Conduct Authority (FCA), local Trading Standards and the Police to crackdown on illegal money lending.
The IMLT are launching a social media campaign to give users advice on how to avoid falling victim to loan sharks and report illegal money lending in their area.
The campaign will run from Wednesday 5th to Wednesday 12th December and will consist of tweets, advice articles and media links being shared from the Stop Loan Sharks Facebook page and Twitter account.
With an estimated 310,000 households in the UK borrowing from loan sharks every year, the team are warning people to avoid unauthorised lenders at all costs amid fears that illegal loans could result in hard up families repaying the lender into the New Year and beyond.
Below are the resources available from the Illegal Money Lending Team (IMLT):