In recent years, catalytic converters have become a sought after item for thieves due to the precious metals used in their construction. This type of theft is not only costly for your business when replacements are required, it can also bring your daily operations to a standstill. What can you do to protect your business from this crime?
Why are catalytic converters so sought after?
For the first time in over 2 years, we are seeing commercial properties, and business parking lots fill up, and catalytic converter thieves are prowling these areas looking for an opportunity to strike. In the last year, catalytic converter thefts have increased a jarring 450% percent, due to an array of micro & macro factors(1). One factor that contributes to this alarming increase is the high prices of the precious metals that are used to construct these sought after car parts.
For example, catalytic converters are made up of a metal casing that contains a ceramic honeycomb coated with a mix of platinum, palladium, and rhodium(2). As of March 30th 2022, these highly valuable precious metals are valued at $1,263.84 CAD/Oz(3) for platinum, $2,855.64 CAD/Oz(4) for palladium, and approximately $23,564.43 CAD/Oz(5) for rhodium. Due to these expensive precious metal prices, converters are being sold anywhere from $1500 to $2500 CAD at metal scrap yards(6).
Another contributor to the 450% catalytic converter theft increase is the ease of accessibility for even the most inexperienced thief. All a thief needs to remove a catalytic converter is a wrench (for converters that are bolted-on), or a metal saw, cutting wheel, or reciprocating saw (for converters that are welded-on) and within minutes they could be off to their next targeted vehicle(7).
How prevalent is catalytic converter theft in our communities?
Businesses such as commercial properties, auto dealerships, and construction sites are an easy target due to the large amount of vehicles, the open nature of the site, and the minimal security measures that are commonly in place. Since mid-February 2022, two businesses in Peterborough, Ontario were hit hard with catalytic converter thefts, resulting in both business losing a total of 19 catalytic converters(8).
Even more recently, on March 22nd, 2022, Police in Guelph, Ontario arrested an individual who was seen attempting to remove the catalytic converter from a business’ vehicle. This individual was charged with theft, trespassing, and possession of a break-in instrument(9).
Another recent example of this type of theft also occurred in Guelph, when two businesses in the same commercial development area both fell victim in the same night, resulting in the loss of three catalytic converters(10). The three suspects were caught on a CCTV surveillance camera, but were not discovered until the next day due to the reactive nature of the security system.
How can you protect your business from catalytic converter theft?
Why leave your vehicles vulnerable? Here are a few effective ways to protect your business:
1. Move your vehicle fleet into a locked/indoor space, if possible.
2. Keep your vehicles in a well-lit area (thieves prefer darkness!)
3. Install an anti-theft device or lock on your converter (make it difficult!)
4. Install a protection shield (thieves want quick and easy targets!)
5. Utilize our proactive video monitoring service (we prevent it!)
Our proactive video monitoring service is an effective security measure that is proven to prevent theft and crime. By utilizing high-resolution security cameras, our video monitoring operators are able to surveil the perimeter of your site, and an additional camera(s) can be installed to directly monitor your business’ vehicle fleet.
When a potential catalytic converter thief is identified, our operators will utilize our various security peripherals to deter the suspect. Voice commands are issued as a vocal deterrence alerting the suspect that they are being monitored and any illegal activity is recorded and will be immediately reported to the police. Our highly visible blue LED strobe light is also used to deter the suspect by bringing attention to the area where the theft is being committed.
If the suspect continues to attempt to remove a catalytic converter, our operators will immediately contact local law enforcement, and provide them with key details such as suspect description, business address, and the location of the vehicle being targeted. While the Police are being dispatched, our Operators continue to monitor the incident, gathering as many details as possible to assist in the apprehension of the suspect, and as evidence to be used in any subsequent court proceedings.
