Halton Trading Standards warn of dating app loan shark traps

England Illegal Money Lending Team (IMLT) has received reports of loan sharks preying on people looking for love online this time of year.

The criminals are setting up online dating profiles to lure victims into fake romance relationships and quickly trapping them in a dangerous cycle of debt.

One victim was tricked into taking out a loan after telling her new love interest about her financial problems.

She initially borrowed £3,000 but her debt soon spiralled out of control. She contacted the IMLT for help when the loan shark demanded £10,000 and sexual favours to pay off her debt.

In other cases, victims have been blackmailed on social sites used by the LGBTQ+ community by loan sharks threatening to download and share private photographs if they fail to pay their debts.

Cllr Dave Cargill, Halton Borough Council's executive board member for trading standards, said: “This is a devastating crime that impacts victims both financially and emotionally.

“We urge people to get in touch if they have been affected by illegal money lending so we can bring perpetrators to justice and provide support to those who need it most.”

Tony Quigley, head of the England Illegal Money Lending Team, added: “It is disgraceful that loan sharks are preying on innocent people looking for love online.

“These crooks strike up relationships with people to earn their trust, and when they have them hooked, they trick them into taking out loans and demand much more in return.

READ> Halton health chiefs warn of new coronavirus symptoms

“This often leads to blackmail and threats of violence if borrowers get behind with repayments.”

Never give your bank details, send money to or receive cash from someone you have only met online.

Anyone who believes they might be the victim of a loan shark shold contact the Stop Loan Sharks 24-hour confidential helpline on 0300 555 2222 or email reportaloanshark@stoploansharks.gov.uk