The England Illegal Money Lending Team is hosted by Birmingham City Council
Who We Are
The England Illegal Money Lending Team (IMLT) was set up in 2004. Initially created as a pilot scheme in Birmingham to investigate loan sharks it had such an impact on illegal money lending it received further government funding.
Today the England IMLT investigates and prosecutes illegal money lenders while supporting those who have borrowed money from a loan shark. Illegal Money Lending Teams in Scotland and Wales ensure the entire UK is working to stop loan sharks.
Each team is comprised of specialist investigators and Liaise Officers who have previously worked for the police, trading standards, and debt advice services. Together the investigators and Liaise Officers work to prosecute illegal money lenders while supporting people who owe money to a loan shark.
The England IMLT works as Stop Loan Sharks within local communities, within education, and with partner agencies including the police. Since 2004, the England IMLT has supported over 31,100 people and written off over £91.2 million worth of illegal debt.
It is estimated that there are 1.08 million people in debt to illegal money lenders in England. The Illegal Money Lending Teams within the UK work to raise awareness of what illegal money is while investigating and prosecuting loan sharks.
Illegal Money Lending Teams and The Financial Conduct Authority
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.
In 2016 the Government legislated to introduce an industry levy to fund the activity of the teams and to take action against illegal lending. The service is governed and overseen by the FCA and HM Treasury.
How We Work with Education and Partner Agencies
The England IMLT works closely with education providers and partner agencies such as the police, housing associations, and debt advice services. Investigating and prosecuting loan sharks is an important part of the England IMLT’s work and is combined with awareness raising of the problems and issues that illegal money lending causes.
The Stop Loan Sharks team has developed a range of free education resources, free partner tools, and will also deliver free in-house training for partner agencies and the police. For more information on these resources email Catherine.wohlers@birmingham.gov.uk to find out how we can help you.
Loan Shark Training for the Debt Advice Sectors
This free 2-hour workshop can be delivered online or in person.
During the sessions we will cover:
• What is a loan shark by definition and the broad range we encounter?
• Who are the victims and what is their journey?
• The work and remit of IMLT
• Signs to identify when a client may owe money to a loan shark
• What if the loan shark is taking court action against the victim?
• The loan shark debt and the Standard Financial Statement
• What information can and can’t you share with our team and GDPR?
• How to engage a client to seek our support
• The impacts on victims
The training carries 2 IMA CPD points
Please contact trish.cassidy@birmingham.gov.uk for more information or to book a session
Next Eventbrite session on 9th Feb from 9:30-11:30