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.’