Two arrested in Essex illegal money lending inquiry

Cash, documents and electronic devices were seized during the raid in Billericay

A man and woman have been arrested in Essex on suspicion of illegal money lending and money laundering.

They were arrested by the England Illegal Money Lending Team during a raid at a home in Billericay.

A man, 59, and woman, 42, were taken into custody and bank notes, documents and electronic devices were seized from the property just after 07:00 BST.

The raid was part of a program to tackle suspected loan sharks across the country.

Essex Police sent a small team of officers to support the operation.

Dave Benson said loan sharks would often try to lend money to vulnerable people

Dave Benson, operations manager with the Illegal Money Lending Team, said most loan sharks were motivated purely by greed.

"Very often people think there's a stereotype of a loan shark, a big bully who goes around threatening people," he said.

"But loan sharks are very calculating, manipulative people and come in a variety of guises, both male and female, both young and old."

He said loan sharks often pretended to be a friend, but would often lend money to vulnerable people.

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A recent report published by the Centre for Social Justice estimated 1,080,000 people may currently owe money to loan sharks, with some lenders demanding sexual favours as repayment from borrowers.