Bedford woman, 61, arrested arrested on suspicion of illegal money lending

A 61-year-old woman has been arrested on suspicion of illegal money lending and money laundering offences.

The England Illegal Money Lending Team (IMLT) - in partnership with Bedford Borough Council Trading Standards and Bedfordshire Police - executed a warrant at a house in Kempston on Wednesday (December 1).

Officers seized a large quantity of documentation and electronic devices.

The suspect was taken into custody for questioning and has since been released under investigation while enquiries continue.

Tony Quigley, head of the IMLT, 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.

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

Families across Bedford are being urged not to turn to predatory loan sharks to cover the cost of Christmas this year.

The IMLT is urging people to watch out for these warning signs when dealing with loan sharks:

Giving you no paperwork or agreement on a loan

Refusing to give you information about the loan

Keeping items until the debt is paid such as your bank card or passport

Taking things from you if you don't pay on time

Adding more interest or charges so the debt never goes down

Using intimidation or violence if you don't pay

Anyone with concerns should call the Stop Loan Sharks 24/7 helpline in confidence on 0300 555 2222 or visit here