Wales loan shark investigators uncover 300 victims

More than 300 people in Wales have become victims of loan sharks in the last two years alone, investigators have revealed.

The Wales Illegal Money Lending Unit (WIMLU) said it uncovered illegal loans of £1.3m and identified 322 victims in 2016 and 2017.

Ryan Evans, from WIMLU, said cases were rising and loan sharks across Wales were becoming "more organised".

One victim, a mother from Cardiff, said they threatened to burn her house down.

She said it led her to self-harm, adding: "I thought if I'm dead they can't have any more money."

Another anonymous victim from Swansea said: "I didn't have enough. I couldn't eat properly, couldn't clothe my children properly.

"If I couldn't pay, they threatened to beat me up in front of my children."

The unit, launched in 2008, has carried out 29 investigations in the last two years which led to 11 successful convictions.

This included a loan shark from Caerphilly who was jailed for three-and-a-half years in December after targeting 116 people.

From the victims identified, WIMLU has provided direct support to a total of 213 people in the last two years.

It has involved helping victims put re-payment plans in place for legitimate debt - such as rent, electric and gas arrears - and assisting them with housing issues, health problems and benefit entitlements.

A total of £734,000 in loans have been written off.

Mr Evans, client liaison officer at WIMLU, said a fear of reprisals or embarrassment often prevents victims from coming forward.

"You have threats, harassment, nasty text messages, actual violence," he said.

"In some of the worst cases, we've dealt with sexual abuse. All those are tactics to keep you isolated and keep you paying."

Tai Tarian Housing Association, which covers Neath Port Talbot county borough, has previously worked with WIMLU to support its tenants who have fallen foul of loan sharks.

Lowri Williams, Tai Tarian's financial inclusion officer, said the area has "big loan sharks we're aware of" but that it had put procedures in place to support tenants.

Mr Evans stressed it was important victims or people with information speak to authorities, saying their "main priority" was to keep victims safe and to "help them get back on their feet".

"We've had people borrowing off loan sharks for 10 years; we understand it becomes part of a way of life... [but] that individual is using you as an income stream, a cash cow. That can easily be broken because you haven't got to pay that money back," Mr Evans added.

"What we find time and time again is, if somebody does take that step, there's a whole community of people who are willing to take that step with them."