Business model of thieves trying to sell stolen catalytic converters for scrap agency in New Jersey just got tougher.
Laws make it harder to resell stolen items emissions equipment for businesses that buy them to mine earth metals whose value is signed into law last week by New Jersey Governor Phil Murphy. It takes effect immediately.
“By implementing catalytic converter buying and selling guidelines, we enhance accountability, making it harder for criminals to profit from stolen converters and easier for law enforcement. easier to bring them to justice,” Attorney General Matthew Platkin said in the release. A similar measure to deter cat thieves that went into effect last year in California.
Among the guidelines provided by the law is one that requires verification of ownership when selling used catalytic converters to scrap metal businesses. Those dealers are now required to record vehicle identification numbers and certificates of ownership or registration from sponsor vehicles. Fines are imposed on those who flout the new rules.
ONE learn released this month by the National Insurance Crime Bureau found reports of stolen catalytic converters spiked from 16,660 in 2020 to 64,701 last year, based on insurance industry data. dangerous. That study also notes that some metal recyclers will pay between $50 and $250 for a catalytic conversion and up to $800 for a single removal from a hybrid vehicles.
“Replacing the catalytic converter is not cheap,” the study said. Costs can range from $1,000 to $3,500 or more to replace a stolen catalytic converter.
According to a report in Morristown Daily Record, New Jersey was one of the catalytic converter “theft hotspots” last year, with a 152% increase over 2021. That’s the second-biggest increase of the year behind New York, at 184%, the report said.
