A woman has been arrested on suspicion of illegal money lending and money laundering.
The Illegal Money Lending Team, in partnership with Barnet Trading Standards and the Metropolitan Police, seized documents and devices from a home in Hendon and arrested a 47-year old woman on February 20.
She is currently in custody and being questioned by officers from the IMLT.
Barnet councillor Dean Cohen said: "Illegal money lending and money laundering is completely unacceptable and is something our Trading Standards Team is working hard with our partners to eradicate from our borough.
"We support the action taken and hope this serves as a warning to all residents involved in illegal activities such as this."
Tony Quigley, head of the Illegal Money Lending Team, said: "Loan sharks prey on some of the most vulnerable members in our society and so it’s vitally important we work with key organisations to combat illegal money lending and protect residents.
"Today’s warrant sends out a clear message to all those involved in this type of criminal activity that we will not tolerate loan sharks in our London boroughs."
The IMLT have secured 382 prosecutions for illegal money lending and similar activity, and have written off £73.7million of illegal debt, helping more than 28,000 people across the UK.
To report a loan shark, call the confidential hotline on 0300 555 2222 or visit www.stoploansharks.co.uk
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