Stop Loan Sharks Wales is here to support victims and protect people from illegal lending and related crimes.
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 are 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.
If you or someone you know is involved with illegal money lending, coming forward is the right thing to do.
Loan sharks are not always easy to recognise. Look carefully for these signs, they may tell you that you are dealing with one.
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 of them from other people.
There is normally little or no paperwork involved, so you don’t know how much you owe.
The loan is usually in cash to not leave a trace or record.
A loan shark may keep your cards, passport or other valuables as security.
The debt keeps growing even though you keep paying.