PostPhoto-Motorcycle

Bike theft takes a hit after auctions ban cash in hand

Synetiq is one of the UK’s largest salvage auctioneers. Using its market power, the company has taken a revolutionary method of tackling bike theft across the UK. Starting from the 31st of March, customers will no longer be able to receive cash payments for written off vehicles.

Removing easy sales to help prevent bike theft

The move comes about after Synetiq has taken steps to consult with insurance companies and the West Midlands Police. Synetiq hopes that the new rigorous payment methods would deter and prevent motorcycle thefts by discouraging easy sales.

West Midlands Police launched a campaign last year calling for stricter standards for motorcycle resales. They had many concerns that thieves abilities to resell bikes easily were encouraging the recent rise in bike theft.

Criminal gangs are putting biker’s lives at risk

Police investigations have recently shown that criminal gangs are buying written-off motorcycles from auctions. From here, they go on to repair the bikes with other stolen parts. On occasions, gangs will often use complicated fraudulent methods to obtain insurance payouts. This involves buying several damaged motorcycles, selling them on and then reporting them as stolen. One thing is for sure; gangs are profiting at large from bike theft.

Synetiq are working hard with police to tackle the issue

Chris Todd, Chief Superintendent of WMP, has stated that Synetiq has set a great example to other vehicle auctions. They are actively taking steps to prevent criminals from reselling dangerous vehicles to innocent bikers. The new decision could potentially close many theft loopholes. As a result, it will help keep dangerous bikes off the road minimising risk and injury. In addition to this, the new decision will help address money-laundering loopholes by forcing buyers to reveal a banking footprint.

Previous schemes have helped prevent the sale of stolen parts

Previously in 2012, The Master Scheme have helped prevent theft. This is done by registering the vast majority of motorcycle parts with tags. They offer a free ‘confirm or deny’ check that can be carried out by anyone interested in buying second-hand parts

Here at SorryMate, we know more than any other solicitors that motorbike Crashes and accidents can happen. It’s even happened to our Fergus. If you’re involved in a crash on the road, don’t hesitate to contact us today.