With the festive season fast approaching, national the Illegal Money Lending Team is urging families not to borrow from loan sharks amid fears that a small loan could lead to massive repayments in the New Year.
The IMLT, which has worked closely with Ipswich Borough Council, Suffolk’s Trading Standards and the Police on a number of local campaigns, investigates and prosecutes loan sharks to crackdown on illegal money lending.
The latest social media campaign will run from Monday 4 to Friday 8 December and will consist of tweets, advice articles and media links being shared from the Stop Loan Sharks Facebook page and Twitter account.
In Ipswich, Sid the Shark became a familiar figure as partners highlighted the fact that it is illegal for anyone to operate a money-lending business if they do not have permission from the Financial Conduct Authority. Reporting a loan shark’s activity will not get you into trouble with the authorities.