On 23rd April 2026, officers from the Scottish Illegal Money Lending Unit (SIMLU), with the assistance of partner agencies, have searched 2 premises of suspected loan sharks in Methil, Fife. As a result of this operation, a 63-year-old female, a 60-year-old male and a 34-year-old male have been arrested on suspicion of illegal money lending. A report will be submitted to the Procurator Fiscal in relation to this matter.
Fiona Richardson, Chief Officer of Trading Standards Scotland commented: “Illegal money lenders take advantage of people at their most vulnerable. Through strong partnership working across Scotland, we are committed to protecting individuals and acting against those who operate illegally.”
“At a time when the cost of living is placing increasing pressure on households across the country, it is vital that we act against illegal money lenders who target communities across Scotland. Over the past few years, we have seen an increase in loan sharks being reported to the Scottish Illegal Money Lending Unit and it is important for people to understand that they are the victim of a crime and have done nothing wrong by borrowing from a loan shark”
“Staff from the Illegal Money Lending team can provide support and advice to people impacted by loan sharks. This is done through our 24/7 confidential support line, 0800 074 0878 or by visiting our website www.stopillegalending.co.uk. We would urge anyone that is aware of an illegal money lender operating in their area to report them.”
Enquiries are continuing and anyone who would like to discuss this issue is urged to contact the Scottish Illegal Money Lending Unit on our confidential support line on 0800 074 0878 or visit our website at www.stopillegallending.co.uk for further information.