A MAN has been arrested for illegal money lending and money laundering after an operation in Dudley.

The England Illegal Money Lending Team (IMLT) worked in partnership with officers from West Midlands Police to execute a warrant at an address in the area on Thursday, June 8.

Officers seized electronic devices and documents.

A 65-year-old man was taken into custody and later released on police bail.

The IMLT works in partnership with Dudley Metropolitan Borough Council Trading Standards to investigate and prosecute illegal money lenders.

Tony Quigley, head of the illegal money lending team said: “Illegal money lending will not be tolerated, and we will continue to work with our partners to take action against those who blight our communities in this way.

“If you have been offered a cash loan, threatened when you couldn’t pay, had your bank card taken from you as security or if what you owe keeps growing even though you are making payments, then you may well have been bitten by a loan shark.

"If you, or anyone you know, has experienced any of these things or has any knowledge of loan shark activities then contact our team in complete confidence. We will help you escape the clutches of these ruthless criminals.”

Councillor Ian Bevan, cabinet member for public health at Dudley Borough Council, said: “Illegal money lending is unacceptable, and we support the Illegal Money Lending Team’s work to prevent the activities of loan sharks in the borough.

 “Illegal money lenders often start by being very friendly and seem to offer the answer to people’s problems, but that soon changes as the debt and interest charges grow. We encourage everyone to follow the Illegal Money Lending Team’s advice and to report any suspected loan sharks.

 “There are also organisations that can offer free support to people worried about debt, such as Citizens Advice, Stepchange Debt Charity and National Debtline.”