A 72-year-old man has been arrested on suspicion of illegal money lending and money laundering offences in Watford.

The England Illegal Money Lending Team (IMLT) working in partnership with Hertfordshire County Council Trading Standards and Hertfordshire Constabulary executed a warrant at an address in Oxhey on Tuesday and seized electronic devices.

The suspect was interviewed in custody and later released under investigation pending further enquiries.

Tony Quigley, Head of the Illegal Money Lending Team, said: “Illegal money lending causes great misery to people once they get caught up in the cycle.

"It can lead to harassment, intimidation and threats, and it’s known that these unscrupulous lenders take borrowers personal items as security and extort payments by other means.

“Anyone affected by illegal money lending can access confidential support on our 24-hour helpline 0300 555 2222 or via Live Chat on our website at www.stoploansharks.co.uk.”

Community organisations, charities and groups are being encouraged to apply for funding for projects that help raise awareness of the dangers of using loan sharks.

Grants of up to £5,000 are being made available with joint bids between multiple agencies being considered. 

Find out how to apply for funding at www.stoploansharks.co.uk/poca-funding/