Hard times likely to fuel lift in motor theft, fraud
The economic downturn has prompted a warning on the expected rise in motor vehicle theft and related insurance fraud.
The National Motor Vehicle Theft Reduction Council says since peaking in 2000/01, short-term theft of passenger and light commercial vehicles, which makes up about 80-85% of all thefts, has consistently fallen. Last year thefts declined a further 7% to fewer than 55,000.
“Despite these reductions, challenges remain for improving short-term theft results in worsening economic conditions,” the council said. “Around 5 million unsecured vehicles are still in the Australian fleet and the emerging trend is towards theft of keys and transponders to steal immobilised vehicles.”
It says motor vehicle theft, insurance fraud disguised as theft and staged accidents are likely to increase.
The National Motor Vehicle Theft Reduction Council says since peaking in 2000/01, short-term theft of passenger and light commercial vehicles, which makes up about 80-85% of all thefts, has consistently fallen. Last year thefts declined a further 7% to fewer than 55,000.
“Despite these reductions, challenges remain for improving short-term theft results in worsening economic conditions,” the council said. “Around 5 million unsecured vehicles are still in the Australian fleet and the emerging trend is towards theft of keys and transponders to steal immobilised vehicles.”
It says motor vehicle theft, insurance fraud disguised as theft and staged accidents are likely to increase.