The business models of thieves who try to sell stolen catalytic converters to scrap metal dealers
Legislation that makes it harder to resell the stolen emission devices to businesses who buy them to extract valuable earth metals was signed into law last week by New Jersey Gov. Phil Murphy. It takes effect immediately.
“By implementing guidelines on the sale and purchase of catalytic converters, we raise the bar for accountability, making it harder for criminals to profit from stolen converters and easier for law enforcement to bring them to justice,” Attorney General Matthew Platkin stated in a press release. A similar measure
Among the guidelines specified by the law is one that demands ownership verification when selling used catalytic converters to scrap metal businesses. Those dealers are now required to document the vehicle identification number and the certificate of title or registration from the donor vehicle. Fines are imposed on those who disregard the new rules.
“Replacing catalytic converters is not cheap,” the study observed. Costs can run between $1,000 and $3,500 or more to replace a stolen catalytic converter.
According to a report in the Morristown Daily Record, New Jersey was among the “theft hotspots” for catalytic converters last year, with a 152 percent increase over 2021. That was the second largest year-over-year increase behind only New York, at 184 percent, the report said.