A MAN was arrested on suspicion of illegal money lending and money laundering following an operation in Keighley.

Documentation, electronic devices and a quantity of suspected cannabis was also seized after a property in the Knowle Park area was raided.

A 33-year-old man was taken into custody as part of Tuesday's operation, carried out by the England Illegal Money Lending Team in partnership with West Yorkshire Trading Standards and the police.

The man has been released under investigation pending further enquiries.

Tony Quigley, head of the Illegal Money Lending Team, said: “Loan sharks prey on vulnerable people by charging extortionate interest rates then often harassing and intimidating their victims for repayments.

“There are other legitimate options available to people who are experiencing financial problems and help is available from the Bradford District Credit Union to obtain affordable credit without turning to loan sharks.

“I am urging anyone who has been a victim of this crime, or thinks they have been targeted by loan sharks, to get in contact with us. We can help you access specialist services and provide emotional and practical support.”

Nationally, Illegal Money Lending Teams have secured more than 400 prosecutions for illegal money lending and related activity, leading to 586 years’ worth of custodial sentences. They have written off £83 million worth of illegal debt and helped over 30,000 people.

Credit unions are recommended as a safe, alternative lending and saving facility. For more about Bradford District Credit Union, visit bdcu.co.uk.

To report a loan shark, call the 24-hour confidential helpline on 0300 555 2222, or visit http://bit.ly/2X9vdnX.