Michael Healy-Rae
Question:783. Deputy Michael Healy-Rae asked the Minister for Justice and Equality the action he will take against illegal money lenders (details supplied); and if he will make a statement on the matter. [47721/12]
View answerTuesday, 6 November 2012
Questions (783)
Written answers
I wish to advise the Deputy that the regulation of money lending is provided for in the Consumer Credit Act 1995 which is the responsibility of the Minister for Jobs, Enterprise and Innovation.
Persons who engage in money lending and who do not hold the necessary licence granted by the Central Bank are committing an offence under section 98 of the Act, which provides for a prohibition on engaging in the business of money lending without a licence.
With regard to any allegations of such criminal activity, complaints concerning the operation of illegal money lenders may be made to An Garda Síochána which has power to bring prosecutions against unlicensed operators.
A person who is found guilty of an offence under the Act is liable, on summary conviction, to a fine not exceeding €3,000 or imprisonment for a term not exceeding 12 months or both, or on conviction on indictment, to a fine not exceeding €100,000 or imprisonment for a term not exceeding 5 years or both.
I have been assured by the Garda authorities that where offences under section 98 of the Consumer Credit Act 1995 are disclosed, and are reported to An Garda Síochána, the matter will be the subject of investigation under the direction of the local District Officer, with relevant expert assistance available from the Garda Bureau of Fraud Investigation.
As I have stated previously, I would encourage those who may have information concerning the operation of unlicensed money lenders in particular circumstances to make that information available to An Garda Síochána who will take all measures open to them to enforce the law in this area.