National 'Stop Loan Sharks' Week 2026

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11 May 2026

When parents get into financial difficulty it can be a short step from borrowing money to cope, to getting involved with illegal lenders, aka ‘loan sharks’.

This week, national ‘stop loan sharks week’, we are asking everyone to be on the lookout for loan shark activity and report what you see to the appropriate authority to stop them ruining the lives of vulnerable families and individuals.

Below is a short blog from the England Illegal Money Lending Team. Please read and share.

'Loan sharks play games with people’s lives– let’s make it game over'.

Loan sharks don’t always look like villains. Sometimes, they change character, switch tactics and reinvent themselves - just like players in an online game. But this isn’t a game. And the consequences are real.

A loan shark, also known as an illegal money lender, is someone who lends money without proper authorisation from the Financial Conduct Authority (FCA). That means they don’t have to follow the rules that exist to protect borrowers. They set their own terms, charge what they want, and stack the game against you from the very start.

Loan sharks often appear friendly at first can - they reinvent themselves to look like a trusted friend, a neighbour, another parent at the school gates or someone recommended by family. But behind the friendly face, is someone playing a dangerous game with people’s lives.

When they offer to do you a favour by lending you money when you need it, it can feel like an easy option. But once you’ve pressed ‘start’, the game has begun and things can quickly spiral out of control.

If borrowers struggle to keep up with repayments, what began as a helping hand can turn into intimidation, threats or even violence. And in real life, there’s no pause or exit button, just constant pressure and fear.

Knowing the warning signs can help you recognise when something isn’t right. You could be dealing with a loan shark if:

You’re given no paperwork
There’s no clear information about how much you owe or how long you’ll pay it back
You’re being asked to pay back more than you borrowed
Personal items such as a bank card, passport or phone are taken as security
You’re threatened, pressured or intimidated if you miss a payment.

The England Illegal Money Lending Team (IMLT), also known as Stop Loan Sharks, exists to help people take back control and put an end to illegal lending.

Set up over 20 years ago, the team has helped tens of thousands of people escape loan sharks and brought hundreds of illegal lenders to justice.

Most importantly, they support people without judgement or blame. If you or someone you know is affected by a loan shark, you are not in trouble. The people breaking the law are the loan sharks - not the borrowers.

Support is available, and there is a way out.

You can contact Stop Loan Sharks in confidence, 24 hours a day, on 0300 555 2222. There is also a WhatsApp service available from 9am to 8pm Monday to Friday on 07700 102773. Visit stoploansharks.co.uk for more information and other ways to get in touch, including a Live Chat facility. Get the right support – and help make it game over for loan sharks.

ENDS

Issued by Sally-Anne Youll, IMLT press officer. For media enquiries, please email Sally-Anne.Youll@birmingham.gov.uk or call 07840 712850.

Notes: The Illegal Money Lending Teams in England, Scotland and Wales work alongside the Financial Conduct Authority (FCA) to investigate those operating within the consumer credit market without the appropriate authorisation.

The Illegal Money Lending Teams in England and Wales work in partnership with local Trading Standards Authorities in their related countries. They consist of specialist officers who investigate and prosecute illegal money lending and related activity and LIAISE officers who support victims and raise awareness of the dangers of borrowing from illegal money lenders

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