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Loan sharks

What is a loan shark?

Loan sharks are illegal money lenders who often charge very high interest rates. You can check if a company is authorised to lend money and report loan sharks anonymously.

If you can answer yes to one or more of these questions you might be borrowing from a loan shark:

  • Did they offer you a cash loan?
  • Did they not give you paperwork?
  • Did they add huge amounts of interest or APR to your loan?
  • Have they threatened you?
  • Are you scared of people finding out?
  • Have they taken your bank card, benefit card, passport, watch or other valuables from you?

Check if a lender is registered

You can search the Financial Services Register for companies and individuals authorised by the Financial Conduct Authority.

Financial Conduct Authority
consumer.queries@fca.org.uk
Telephone: 0800 111 6768
Monday to Friday 8am to 6pm
Saturday 9am to 1pm
Find out about call charges

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