Anyone who lends money for a profit must be registered with the Financial Conduct Authority.
"Loan Sharks" are operating illegally, no matter who they are, and what interest they are charging.
If you know of anyone who has borrowed money from an unauthorised money lender, please advise them to get in touch with the Illegal Money Lending Team on
0300 555 2222
or visit their website stoploansharks.co.uk