Hunting the loan shark in Scotland

A new campaign targeting loan sharks has been launch by the Convention of Scottish Local Authorities with support from the Money Advice Service.

Using the slogan “loan sharks rip lives apart”, the campaign reassures people that they have not broken the law if they have borrowed money from a loan shark and urges them to report the lender to the police.

A series of posters and print and radio advertisements will stress that loan sharks are a real threat to local communities.

The ads warn of the very real risks that loan sharks represent.  “Loan sharks are not your friends. They want you under their control. To make sure you pay they will use threats, intimidation and violence. Against you and your loved ones.”

More than 200 loan sharks are thought to be operating in Scotland, although this number may underestimate the total.  By contrast, only 34 calls were made by people in Scotland to report loan sharks in 2012.

To report a loan shark in confidence, call: 0800 074 0878 or text: 60003

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