Suspected loan sharks arrested in Hemel Hempstead

A police officer in a fluorescent jacket with a clipboard.

Documentation and electronic devices were discovered during a search of a Hemel Hempstead property. - Credit: PA

Two suspected loan sharks were arrested in Hemel Hempstead on Tuesday (May 10).

Officers from Hertfordshire Police and the England Illegal Money Lending Team (IMLT) executed a search warrant at an address in the town, in which documentation and electronic devices were discovered.

A 40-year-old man and a 35-year-old woman were taken into custody, and questioning followed.

They have since been released whilst police continue their enquiries. 

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 them.

“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.

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“We will not tolerate these activities in Hertfordshire and would urge anyone with information about loan sharks to report them as soon as possible.”

Meanwhile, Hertfordshire County Council Trading Standards' community protection manager, Mike MacGregor, commented: "We know that increases in the cost of living are putting pressure on household finances, but we would actively encourage residents to use reputable sources of finance to avoid becoming prey to loan sharks.

"There are a number of credit unions in Hertfordshire that offer access to low cost and reputable loans, for example the Dacorum First Credit Union based in Hemel Hempstead.”

Anyone with concerns about illegal money lending can contact the 'Stop Loan Sharks' helpline on 0300 555 2222 or access support online.