What is a Loan Shark?
Illegal moneylenders, often known as loan sharks, are those who lend money to people without the valid credit authorisation from the Financial Conduct Authority (FCA). Loan sharks usually advertise by word of mouth and appear friendly and accommodating at the start. However, they prey on the most vulnerable people in society and cause immense misery.
Watch our video below to see a dramatisation of two real-life stories of victims of illegal money lenders in Scotland.
How Can I Spot a Loan Shark?