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Dear resident,
Loan sharks come from all sections of society and from all age groups. The only thing that unites them all is that they will strike wherever and whenever someone is vulnerable.
When many people think of a loan shark, they often picture a male between 20 and 40 years of age. Similarly, borrowers are often thought of as young, out of work, maybe a single parent.
But in many cases those images, of both the lender and the borrower, couldn’t be further from the truth.
In 2022, 22% of those supported by the England Illegal Money Lending Team were over the age of 55.
Many illegal money lenders are well known within their communities and are often introduced to borrowers through friends or family members. They are unregulated and give loans with no paperwork, charging extortionate interest rates. They often resort to threats, intimidation and even violence if repayments are not made.
To find out more about loan sharks and how to protect yourself and others against them join Buckinghamshire and Surrey Trading Standards' free webinar on Thursday, 14 November.
You can find out more information, including how to sign up here: https://www.eventbrite.co.uk/e/staying-safe-from-financial-fraud-scams-loan-sharks-bsl-available-tickets-970292429777
Kind Regards, | ||||
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