[PODCAST]: Arum: Illegal Money Lending and stopping Loan Sharks

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Link: Illegal Money Lending and stopping Loan Sharks

In the fight against loan sharks, it is crucial to understand the evolving landscape of illegal lending and implement effective interventions. This article explores key insights and recommendations from England's Illegal Money Lending Team. By highlighting the challenges faced, identifying potential indicators, and emphasizing collaboration between sectors, the goal is to empower organizations to detect loan shark activities and support victims.

Key Points

Loan shark operations have transitioned to online platforms and utilize social media for targeting vulnerable individuals.The rise of Faster Payments and mobile technology has facilitated loan shark transactions and expanded their reach.Detecting loan sharks proves difficult due to their use of various disguises and deceptive practices.Affordable credit is essential but not sufficient in addressing the needs of indiv...

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