A suspected loan shark has been bailed after being arrested following a crackdown on illegal money lending.
The 43-year-old man was detained in Brighton yesterday morning (October 1) on suspicion of illegal money lending and money laundering.
The arrest was part of a targeted operation led by the England Illegal Money Lending Team (IMLT), working in partnership with Sussex Police.
Officers executed a warrant at an address in the Elm Grove area of Brighton, where electronic devices were seized.
The suspect was taken into custody and questioned by IMLT investigators.
He has since been bailed, pending further enquiries.
Dave Benbow, head of the IMLT, said the action formed part of continued efforts to investigate reports of illegal money lending and protect communities from harm
"Working closely with our partners, we will continue to take robust action against illegal lenders who profit from intimidation, fear and exploitation," he added.
"Illegal lenders often take advantage of people who are struggling financially.
"Warning signs can include being threatened when you cannot make repayments, having your bank card held as security, or finding that your debt continues to grow despite making regular payments.
"If you have experienced any of these, or if you have information about illegal lending activity anywhere in the country, I urge you to contact our team in complete confidence."
The IMLT works in partnership with trading standards teams across England to investigate and prosecute illegal money lenders, often referred to as loan sharks.
According to the Centre for Social Justice, up to 1.7 million people in England are currently in debt to loan sharks.
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Many illegal lenders operate within their communities and are often introduced to borrowers by friends or family members.
They are unregulated and provide loans without paperwork, often adding excessive charges and resorting to threats, intimidation, or violence if repayments are missed.
Borrowers are not protected by consumer law, meaning they have no access to cancellation periods or the ability to apply for help if they are unable to pay.
The IMLT also operates in partnership with the Financial Conduct Authority to investigate unauthorised money lending within the consumer credit market.
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