How loan shark threats keep victims like me silent

Key developments are emerging from the global stage. 'How loan shark threats keep victims like me silent'1 hour ago Share Save Add as preferred on GoogleStephanie MiskinandLouise Fewster , Yorkshire and Lincolnshire Investigations Watch the moment loan shark is arrested in police raidA samurai sword, a meat cleaver and babies' passports are among the items seized in raids by illegal money lending investigators - who have given the rare access into how they track down loan sharks. Loan sharks illegally charge crippling interest rates and intimidate those who borrow money from them. England's Illegal Money Lending Team (IMLT) relies on public tip-offs to identify suspects, but people have told the they are often frightened to report loan sharks for fear of violent repercussions.

David Benbow, who leads the IMLT, has seen first-hand why people are so reluctant to come forward and has even seen a rise in lenders posing as friends or acquaintances - blurring the line between help and exploitation. Sarah, not her real name to protect her safety, became homeless and tried to end her life several times after being threatened by loan sharks. She has only recently finished paying £20,000 of debt repayments after borrowing less than half that amount.

The Details

'I want it now or you are gonna be hurt'The 28-year-old first got in touch with one loan shark via social media after she was turned down for a credit card. The agreement was, if she borrowed £50, she would repay £100. Though she soon found out that if she was late or missed repayments it would get worse.

" feeling under pressure of paying an amount that I couldn't afford," she said. Sarah, from Yorkshire, had no idea what her loan sharks looked like, but they knew everything about her after she sent photos of her utility bills in what she believed was a legitimate registration process, unaware her lender was not regulated by the Financial Conduct Authority (FCA), as is legally required. "I didn't realise at the time how deep I'd actually get into the debt and how much of a repercussion could come of it, until one month when I couldn't afford the full amount...

and that's when I knew that, oh, he's got my address... they could come and do something," said Sarah. Sarah began receiving threatening messages such as "I want it now or you are gonna be hurt".

What Experts Say

The was given exclusive access to the Illegal Money Lending Team evidence store, with a knuckle duster, meat cleaver and hunting knives among items seizedSarah said a decline in her mental health, a need for medication and growing vulnerability left her open to exploitation. "When I look back, I'm filled with shame," she said. "Why did I let it get to that point?

"As the pressure became overwhelming, Sarah tried to end her life, describing how the threats left her feeling trapped. She said some of her friends had taken their own lives after accumulating thousands of pounds in loan shark debt that their families knew nothing about - with the fear of being labelled a "grass" keeping many victims silent.

The development has drawn wide international attention, with diplomatic circles watching closely.