Just one person was convicted for illegal money lending in Caerphilly since 2007 according to figures obtained by Plaid Cymru AM Jocelyn Davies.
The figures from the Wales Illegal Money Lending Unit show the convictions followed nine reports or investigations between 2007 and 2013.
In a question to Minister Carl Sargeant at the Senedd last week, Ms Davies raised concerns that such low conviction rates could undermine the Welsh Government’s Financial Inclusion strategies.
Jocelyn Davies AM asked the Minister: “Enhancing financial inclusion must involve the eradication of illegal money lending and I wonder if you will discuss this low conviction rate with counterparts in Westminster, the police and the Crown Prosecution Service?”
The Minister committed to raising the issue with the Crown Prosecution Service and the police.
The figures revealed that of the five Gwent counties, Newport, Blaenau Gwent and Caerphilly were the areas where a conviction had been secured. There were four reports or investigations in Torfaen but no convictions, and in Monmouthshire despite six reports or investigations, no convictions were secured there either.
Ms Davies said: “The work of the Wales Illegal Money Lending Unit is to be commended but the Welsh Government needs to establish the reason for such low conviction rates. During a time of recession, people on low incomes are vulnerable to loan sharks and their lives can be made a misery if they find themselves victims of such criminals.
“Whilst we must continue to promote the ethical alternatives such as credit unions, we must be relentless in pursuing those who callously take advantage of vulnerable people and the criminal justice system should support such efforts.”