A man has been arrested in Tooting on suspicion of illegal money lending and laundering.

The suspected loan shark, 36, was arrested following a joint operation by the Met Police, Wandsworth Council’s Trading Standards Department and the England Illegal Money Lending Team (IMLT).

The team raided his home, seizing documents and electronic devices.

The suspect was questioned by IMLT officers before being released under investigation while enquiries continue.

Tony Quigley, head of service for the England Illegal Money Lending Team, said: “We will continue to work with local authorities and the police to combat loan sharks. These criminals cause untold misery amongst our local communities.

“If you’ve been issued a loan with no paperwork or are receiving threats over a loan you have already paid off, please get in touch with IMLT on 0300 555 2222.

“Your call will be handled by a trained IMLT officer and all information will be treated in the strictest confidence.”

Councillor Jonathan Cook, Wandsworth Council’s cabinet member for Community Safety, said: “Wandsworth Council will continue to support the work of the Illegal Money Lending Team in cracking down on unscrupulous loan sharks who make borrowers lives a misery.

“Loan sharks pose a serious threat to some of the most vulnerable members of society. In extreme cases, violence or intimidation is used to pressure victims into paying money back. That’s why it is so important to stop these criminals from operating in our borough.”