Crackdown on loan sharks looms

A crackdown is looming against loan sharks in Portsmouth
A crackdown is looming against loan sharks in Portsmouth

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A CRACKDOWN could be launched in Portsmouth on people who lend money illegally.

The council’s cabinet for environment and community safety will decide at a meeting inside Portsmouth Guildhall tomorrow whether Birmingham City Council’s Illegal Money Lending Team should be allowed to carry out investigations here and prosecute.

Illegal money lending covers a range of activities, from people who are licensed but act unlawfully, to loan sharks who aren’t licensed but offer cash. Operating a consumer credit business without a licence is a criminal offence and carries a maximum penalty of £5,000 and/or up to two years imprisonment.