Pearse Doherty (Donegal, Sinn Fein)
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347. To ask the Minister for Finance the total number of loan sharks that have been reported through his Departments dedicated lines and other avenues each year for which data is available; and if he will make a statement on the matter. [55012/25]

Pearse Doherty (Donegal, Sinn Fein)
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348. To ask the Minister for Finance to provide details of the regulation of HCCP collection agents; and if he will make a statement on the matter. [55013/25]

Paschal Donohoe (Dublin Central, Fine Gael)
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I propose to take Questions Nos. 347 and 348 together.

A High Cost Credit Provider is a person who engages in the provision of high cost credit, or who advertises or announces themselves or holds themselves out in any way as engaging in the provision of high cost credit. One of the indicators that someone is engaged in the provision of high cost credit is where the total cost of the credit to the consumer under the agreement is in excess of an Annual Percentage Rate of 23%.

The Central Bank of Ireland is the competent authority for the authorisation and supervision of High Cost Credit Providers. It maintains a public register of authorised firms and provides an online form and consumer helpline for reporting information on unauthorised firms or persons.

My Department does not have a reporting role in respect of such individuals or firms.

I am informed by the Central Bank of Ireland that, since the enactment of the Consumer Credit (Amendment) Act 2022 in June 2022, the total number of cases in respect of suspected unauthorised High Cost Credit Providers opened by the Central Bank of Ireland is 157 cases, with 695 complainants submitted in relation to them.

The 695 complaints provided details that brought them under the high cost credit legislation, that is the service being offered was a loan with an APR of 23% or higher. However, in the majority of these complaints, the loan was never provided. It is understood the majority of the 157 cases relate to frauds and scams that originate online.