The current scale and trajectory of Illegal moneylending in the United Kingdom (UK)

Tender description

Fair4All Finance is seeking to commission a comprehensive research report into the current scale and trajectory of illegal moneylending (IML) in the UK. We want the research to establish, as precisely as possible, the current volume and value associated with IML in the UK. This will include physical, face to face interactions, and more recent developments in online introductions and transactions conducted digitally. In these scenarios, customers may be duped into thinking the website or introducer is legitimate or preyed upon where they may know or suspect the lender is unauthorised but believe their choices are so limited that they proceed with transactions. Insights from this work, especially understanding the volume and value of illegal moneylending, will be used by Fair4All Finance and partners to inform regulators and the wider financial services sector on how to reduce customers in financially vulnerable circumstances needing to turn to illegal money lenders. The request for proposal document can be found on the Fair4All Finance website.