Suspected loan sharks arrested in Hemel Hempstead

Two people were arrested on Tuesday (May 10).

Thursday, 12th May 2022, 12:19 pm

Two people were arrested on suspicion of illegal money lending and money laundering offences after an operation in Hemel Hempstead this week (May 10).

Hertfordshire Constabulary and England Illegal Money Lending Team (IMLT) took a 35-year-old woman and a 40-year-old man into custody for questioning.

They have been released under investigation.

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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.”

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

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Mike MacGregor, Community Protection Manager at Hertfordshire County Council Trading Standards, said: “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.”

Mr MacGregor continued: “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.”

The IMLT works with government agencies and the police to investigate and prosecute loan sharks.