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Cath Wohlers

Cath Wohlers. LIAISE Manager England Illegal Money Lending Team. The definition of a Loan Shark. Someone who lends money as a business (to two or more people) without having the necessary licence:. Typical characteristics . No credit agreements given No receipts for payment or payment books

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Cath Wohlers

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  1. Cath Wohlers LIAISE Manager England Illegal Money Lending Team

  2. The definition of a Loan Shark Someone who lends money as a business (to two or more people) without having the necessary licence:

  3. Typical characteristics • No credit agreements given • No receipts for payment or payment books • Most payments are cash and weekly • Violence and/or intimidation - threats • May suggest payments in kind to themselves or others • Often work alone or have a tight group of collectors

  4. ….Typical characteristics • Can take illegal securities e.g. cash card • Never advertise – incentives for introducing a friend • Communicate mainly in person or via text • Repayments of at least twice the amount borrowed • May encourage the use of legal credit options to pay towards the debt e.g. credit union or crisis loan

  5. Other agencies are not aware of the law regarding money lending Victims are not aware of the law regarding money lending Loan Sharks target the most vulnerable Challenges People may have extended family in area The offence of unlicensed money lending may not show true Extent of criminal activity Victims feel morally obligated to pay back The money they borrowed People are reluctant to complain through peer pressure

  6. Addressing the issues • Using the full weight of the legislation available: • Consumer Credit Act 1974. • Proceeds of Crime Act 2002. • Theft Act 1968 –Demanding money with menaces / Blackmail. • Injunctions and anti social behaviour Orders.

  7. MM • Ex British Commonwealth boxing champion (Mike Armstrong) • Business premises in Gym in Salford • Advertised in MEN/Local free papers as MAM finance • Pleaded guilty to 3 Blackmail, 7 Criminal damage, 1 Affray and one Illegal lending • Given 4 year sentence • 900 victims across Greater Manchester • Judge remarked ‘Attempted murder of the soul’

  8. Loan Sharks and Financial Inclusion • Source of Intelligence • Prevention is better than cure • Victim referrals • Community work and education

  9. “Blair's ill-gotten gains are being ploughed back into the community he preyed on” 79 new savings accounts opened

  10. POCA – Play – “A Loan”

  11. Looking forward…….Our Offer to Partners • Enhanced Training • Events • Action Plans • Publicity and Promotion • Community development model • Campaign Partner • Community Advocates

  12. Key Stats • Identified over 2,000 illegal lenders • Arrested over 525 illegal money lenders (loan sharks) • Written off over £40 million of illegal debts (money victims would have paid back to illegal lenders if the Department had not acted) • Secured over 200 prosecutions, resulting in prison sentencing totaling over 128 years and one indefinite sentence • Helped over 18,000 victims of loan sharks including the most hard to reach individuals • Seized over £1.5 million in cash • Over £27 million of assets are being investigated (under POCA) with the intention of removing these from illegal lender • Referred over 750 victims to alternate (legal) sources of financial support • Trained over 5000 front line staff

  13. Do you know a victim? • Owe money to a friend? • No paperwork? • Loan that just keeps growing? • What you can do: • Pass the intelligence to us • Support the individual to talk to us • Arrange a meeting with a LIAISE Officer for a discussion about what support is available • Every piece of information can help • Anonymity, confidentiality, third party reporting, what if?

  14. 0300 555 2222 Text: loan shark + your message to 60003 reportaloanshark@stoploansharks.gov.uk www.direct.gov.uk/stoploansharks

  15. Matthew Thubron LIAISE Officer 07500 809340 Matthew.thubron@birmingham.gov.uk

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