A CAMPAIGN to raise awareness about the dangers of illegal money lenders, fraud and other scam methods across Bolton has won an award.
Bolton Safeguarding Adults Board, which aims to prevent financial abuse and protect vulnerable adults from falling prey to loan sharks, has received a Highly Commended award.
The annual Stop Loan Sharks Awards hailed the team for their 2017 Christmas campaign which was commissioned by Bolton Community Voluntary Service (CVS).
John Brimley, chairman of Bolton Safeguarding Adults Board, said: "Economic abuse of vulnerable adults is becoming increasingly prevalent.
"The aim of our campaign was to warn people about loan sharks in the difficult time leading up to Christmas, where people are likely to take out loans they can’t afford because they want to give their loved ones a good Christmas.
"Our work around economic abuse will continue over the next two years, and we hope to run several further campaigns on different themes in the weeks and months to come."
The loan shark campaign sought to increase awareness of illegal money lending, fraud, and promoted Hoot Credit Union — a financial co-operative offering savings and affordable loans to members in Bolton and Bury — as a safe and local option for borrowing during the festive season.
The safeguarding board which ran the initiative is made up of representatives from Bolton Council, Greater Manchester Police, local NHS trusts and other partner agencies.
Councillor Madeline Murray, Bolton Council’s cabinet member for adult safeguarding and adult social care, said: "We are delighted that Bolton Safeguarding Adults Board has been commended for the work it has been doing around illegal money lenders and loan sharks, to keep the people of Bolton safe."
Loan sharks operate illegally, without the correct permissions from the regulatory Financial Conduct Authority. Many of these lenders resort to extreme methods to enforce debt repayments from their victims, including threats, violence and intimidation.
Illegal Money Lending Teams, who hosted the Stop Loan Sharks Awards, have secured more than 380 prosecutions nationally for illegal money lending and related activity.
Tony Quigley, head of the Illegal Money Lending Team, said: "We are delighted to present Bolton Safeguarding Adults Board with this award for their excellent continued work to ensure local communities turn away from loan sharks.
"It is important for people to realise that alternatives to borrowing from loan sharks are available if you are in financial difficulty.
"We are here to help if you have already taken out a loan from an illegal money lender.
"Please call our confidential hotline on 0300 555 2222 if you or someone you know is in this situation."
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