A loan shark is an illegal money lender — someone who lends money without being authorised to do so by the Financial Conduct Authority. They often target people who are in financial difficulty and unable to access credit through legitimate means.
Loan sharks use fear, intimidation and manipulation to keep their victims in debt. Borrowing from a loan shark is not illegal, but lending without authorisation is a serious criminal offence. If you’re in this situation, you are the victim — not the wrongdoer.
You can report a loan shark and get help in complete confidence. You will not get in trouble for coming forward.
Protecting our community
Financial safety & loan sharks
Illegal money lenders target people in financial difficulty. We want to help you recognise the signs, protect yourself, and know where to get help safely and confidentially.
Know the signs
What is a loan shark?
You might be borrowing from a loan shark if…
They offered you a cash loan with no paperwork
You don’t know how much you originally borrowed or what you still owe
They have added huge amounts of interest or charges you weren’t told about
They have threatened you or someone you know
They have taken your bank card, passport, benefit card or other valuables
You are afraid of what might happen if people find out
Get help now
Stop Loan Sharks
Stop Loan Sharks is the national team dedicated to investigating and prosecuting illegal money lenders and supporting borrowers. Their support is confidential, non-judgemental and available around the clock.
24-hour helpline
0300 555 2222
0300 555 2222
stoploansharks.co.uk — safe, confidential online reporting available any time
What to expect
What happens when you report
Many people are afraid to report a loan shark. Here is what you can expect if you come forward.
It’s completely confidential
Your identity is protected. Stop Loan Sharks will not reveal who reported the lender without your explicit consent.
You won’t get in trouble
Borrowing from a loan shark is not illegal. You are the victim. Coming forward will not result in any action against you.
You’ll receive support
Stop Loan Sharks provides emotional and practical support tailored to your situation, and can help you safely exit the arrangement.
How we can help
The HWS Family Hardship Fund & financial safety
People sometimes turn to loan sharks because they cannot access mainstream credit and face an urgent, essential need. The HWS Family Hardship Fund exists precisely to prevent this kind of situation from arising.
If you are in financial difficulty and need help with an essential item or service, please talk to us before turning to an informal or unregulated lender. Our grants are free, confidential and have nothing to repay.
We can also connect you with the right advice and support organisations if your situation is more complex than a single grant can address.
If you are in financial difficulty and need help with an essential item or service, please talk to us before turning to an informal or unregulated lender. Our grants are free, confidential and have nothing to repay.
We can also connect you with the right advice and support organisations if your situation is more complex than a single grant can address.
Acknowledgement
This page was developed in partnership with the England Illegal Money Lending Team (Stop Loan Sharks), which investigates and prosecutes illegal money lenders and provides support to borrowers across England.
The destruction caused by illegal money lending in our communities is something we take seriously. If you are aware of someone being targeted, please encourage them to call 0300 555 2222.
The destruction caused by illegal money lending in our communities is something we take seriously. If you are aware of someone being targeted, please encourage them to call 0300 555 2222.