Officers from Operation Reacher supported a specialist national team in an operation targeting so-called ‘loan sharks’.
Nottinghamshire Police, The England Illegal Money Lending Team (IMLT) and Nottingham City Council Trading Standards conducted a warrant and at a residential property in Top Valley on Tuesday 20 April, following intelligence that illegal money lending was taking place.
A storage device and paperwork were seized from the property during the warrant.
No suspects were found in the property and no arrests were made, but officers from the IMLT continue to make enquiries.
Neighbourhood Policing Inspector for City North Christine Busuttil said: “Working in partnership with the IMLT and Trading Standards, we were able to assist with this warrant to stop a suspected loan shark in his tracks.
“As a proactive local team, we act on information and intelligence from, and about, our local community and encourage people to share their thoughts and concerns with us.
“This is a fantastic piece of partnership work where agencies have come together, shared information, and subsequently been able to carry out this successful warrant together.
“Illegal money lending has a huge impact on those borrowing from these so-called ‘loan sharks’. They’re often vulnerable, left with huge repayments and left fearful in the process.”
Tony Quigley, head of the Illegal Money Lending Team, said: “We are determined to warn residents about the dangers of loan sharks, and we will work with partners to take action against these unscrupulous lenders.
“Loan sharks are criminals that prey on the most vulnerable people in our communities. They trap their victims into spiralling debt and will often use intimidation and violence.
“We would urge anyone with information about loan sharks to report them as soon as possible. You can also access confidential advice and support from specially-trained staff on our 24-hour helpline or use live chat on our website.”
To report a loan shark, call the 24/7 confidential helpline on 0300 555 2222 or visit the website www.stoploansharks.co.uk. Live Chat is available on the website Monday to Friday from 9am to 5pm.
