Ipswich BC logo


Don’t fall victim to loan sharks!

Published4th December 2017

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.