The Canadian Finance and Leasing Association reports that vehicle theft in Canada is costing billions of dollars a year.
The report shows that every six minutes, a vehicle is stolen in Canada.
The report points out organized crime is behind Canada's vehicle theft crisis, and the profits are financing drug trafficking, firearm smuggling, tax evasion, money laundering and terrorism.
The report reveals that a more coordinated national effort is necessary to curb these often violent crimes and it calls for immediate action from the federal government.
"It’s become common, and we had to develop recommendations to address it” said Michael Rothe, President and CEO of the CFLA. "Almost everyone I speak to has a story about vehicle theft, and our latest report proves it. Vehicle theft in Canada is rising exponentially, with organized crime becoming more adept at maintaining their revenue flow from stolen vehicles. We urgently need public education programs on theft prevention, the re-establishment of provincial auto theft teams, and protocols for reporting financed vehicles exported through identity theft."
Sometimes vehicle theft is a crime of opportunity, as thieves hop in a truck left running, or find the keys left inside a vehicle. They can also use sophisticated methods such as overriding the vehicle's diagnostic system or copying the settings of an electronic key fob.
Criminals sometimes chop the stolen vehicles into parts and fit them with new vehicle identification numbers. Stolen vehicles are also often exported overseas in shipping containers.
Some of the solutions suggested include a theft prevention education program, and reviving Provincial Auto Theft Teams. Other ideas include lowering insurance rates for customers who install theft deterrent devices and creating a remote VIN plate verification.
