Resources Released to Teach about Dangers of Loan Sharks

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Brand new resources have been developed by teachers to warn young people about Loan Sharks – funded by prosecuted Loan Sharks through the Proceeds of Crime Act. The Illegal Money Lending Team is a Trading Standards project set up to prosecute Loan Sharks and help their victims. The resources have been developed to raise awareness of the help available and, just as importantly, to prevent people using illegal money lenders from a young age.

The materials contribute to a variety of curriculum area, such as Maths, English, PSHEe, Drama, Art and Design and cover all key stages. They are pfeg quality marked and also deliver many core learning objectives from the pfeg primary and secondary planning frameworks including:

For primary schools (Click here to view the PDF pack): lessons about keeping your money safe, where does money come from and the difference between need and want. It also introduces the idea of saving and looks at issues around borrowing and lending possessions and money.
For secondary schools (Click here to view the PDF pack): lessons about safer lending and borrowing that reflect key financial inclusion objectives around when and how to borrow, values around money, saving and what can go wrong if you don’t make the right choice. There are lessons on credit, shopping around to get the best credit deal and the dangers of borrowing from Loan Sharks.

The videos used in both packs can be found at https://vimeo.com/stoploansharks

The resources have been developed by Birmingham City Council, and further information is available by clicking here.

Tony Quigley Head of the England Illegal Money Lending Team said “Money management is a vital part of children’s education, and it is important we develop an understanding of the dangers of loan sharks with our youngsters. Not only will this help to send a preventive message, when children reach adult life but it is hoped that they will also share what they have learnt with their families, so they know where to turn if they have been a victim of this crime.”

Stop Loan Shark Resources:

encourage money management and saving from a very early age- helping very young children to recognise coins through to encouraging older children to think about how they would plan income and expenditure sheets.
focus on the issue of illegal money lending, with a cartoon about a penguin who borrows from a loan shark to fix a broken fishing rod for 5-11 olds, to looking into real life case studies with 11-19 years olds. The packs will include real life context, so can even be used for continued learning for older pupils or other members of the community.
tie in with many different subject areas, and compliment financial education which will become compulsory from September this year, as part of Maths lessons from key stages 1-4 and Citizenship lessons from key stages 3-4.
the packs are part of the Team’s ongoing work to educate the next generation to steer clear of illegal money lenders. The Team have worked with schools, across England hosting assemblies on the issue and encouraging pupils to get involved with drama, design and other activities which enable them to learn about the dangers.