MP’s Delight over Loan Shark Crackdown.
2nd October 2007
Following the success of a Glasgow pilot anti-loan shark team the UK Government has announced plans to create other teams throughout the rest of the UK.
Scotland’s anti-loan shark team, which is run by Glasgow City Council but works across the whole of Scotland, has received as part of the announcement further funding to enable it to provide extra advice and support to the victims of loan sharks.
Since the team was formed in 2004 it has opened 130 case files and reported 27 individuals to the Procurator Fiscal for their involvement in illegal money lending. Collectively the Glasgow team and another in Birmingham have identified more than 200 illegal lenders and shut down loan books worth more than £3million. In addition the provisions of the Proceeds of Crime Act have also been utilised and actions involving around £1/4 million are currently outstanding in Scotland.
Secretary of State for Scotland and local MP Des Browne said:
“One of the most noticeable successes of the Glasgow Team has been a conviction resulting in a 10 month prison sentence. However with more than 18,000 households in Scotland being exploited by loan sharks every year this remains a problem in our communities and I am delighted that further funding is to be provided.”
Over the coming months the team will launch a telephone hotline for victims of loan sharks and people who want to report loan shark activity. Calls to the hotlines will be completely confidential.
