Scotland - Mulligan welcomes crackdown on loansharks
08 December 2003
Deputy Communities Minister Mary Mulligan has stated that loansharks are not welcome in Scotland.
The Minister welcomed the DTI's plans to tackle loansharking - a trading standards team, to be based in Glasgow from April 2004, will identify and target loansharks across Scotland and bring them to court.
Ms Mulligan explained: 'Loansharking is utterly corrupt, and I fully support this attempt by the DTI to take illegal moneylenders out of our communities. They charge extortionately high interest rates and thrive on a culture of fear and dependence. They prey on impoverished communities and are often involved in other crimes such as drug dealing.'