A gang of “loan sharks” have been arrested on suspicion of money laundering in Sydenham.

Two men, aged 31 and 48, and a 44 year-old woman were arrested this morning (November 29) on suspicion of illegal money lending and money laundering.

Police seized cash, loan documentation and electronic devices at the suspects’ addresses.

The three are currently in custody and are currently being questioned.

Across the country the police’s illegal money lending teams have secured more than 359 prosecutions for illegal money lending and related activity, leading to nearly 306 years worth of jail time.

This has written off £71.75 million worth of illegal debt and helped over 26,000 people, the police has said.

Tony Quigley, head of service for the national illegal money lending team, said: “We will continue to work to combat loan sharks.

“They can cause untold misery to the most disadvantaged in our communities.

"We would urge anyone with information about loan sharking or victims of loan sharks to contact the team on 0300 555 2222.”