A 25-year-old has been arrested on suspicion of acting as a loan shark.

The man was arrested on suspicion of illegal money lending on October 10 after the Metropolitan Police and the England Illegal Money Lending Team raided a West Ham address.

Officers seized documents and electronic devices from the address.

The suspect was taken into custody and questioned by investigators. 

A spokesperson for Stop Loan Sharks, a group that investigates and prosecutes illegal money lenders, said: "The suspect has been bailed pending further inquiries. There is no fixed date as yet."

Head of Stop Loan Sharks' Illegal Money Lending Team, Tony Quigley, said: “We work continually with our partners across England to tackle the scourge of illegal money lending.

"If you, or anyone you know, has been targeted by an illegal lender, or has any knowledge of illegal lending activities, you can contact our team in complete confidence. We can offer support and advice about what to do next.”

Signs you may have been targeted by an illegal lender:

  • Being given no paperwork regarding a loan

  • Being requested to hand over items such as bank cards or a passport until the loan is repaid

  • Interest charges being added continually 

  • Being threatened or intimidated if you can't pay

Anyone with concerns can contact the Stop Loan Sharks 24/7 Helpline in confidence on 0300 555 2222 or access support online at Stop Loan Sharks.

Live Chat is available on the website between 9am and 5pm, Monday to Friday.