lllegal lending and loan sharks are not widely talked about in our local communities. Most of our attention has been given to payday loan and mainstream lenders who prey on vulnerable debtors due to their high interest and charges.  My experience as a debt advisor has taught me that a substantial proportion of those from deprived communities who seek debt advice are unaware of the differences between illegal lending, payday loans and pawnbroking.   The distinction between an illegal lender and a legal one rests on the failure of the illegal lender to seek approval to operate as a commercial lender, from the Financial Conduct Authority (FCA), as the regulator of financial services in the UK. According to provisions of the Financial Services and Markets Act 2000, any UK financial activities have to be regulated by the FCA unless legally exempted from such regulation.  In the following report published by the regulator: Shining a light on illegal money...