Cash crackdown for salvaged bikes

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Published on 5 March 2019 by Matt Colley

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Filed under Category: The world of motorcycling

Written-off bikes will no longer been paid for in cash by one of the country’s largest salvage auctioneers in an attempt to crack down on the sale of stolen vehicles.

Synetiq, which processes hundreds of thousands of vehicles per year, operates 16 sites around the country. As of March 31 2019, all customers who sell a written-off or damaged vehicle will be paid by bank transfer instead – so creating a stronger record than cash payment alone.

The step comes after a campaign by the West Midlands Police, who were concerned that organised gangs were exploiting salvage auctions to sell-on stolen bikes or parts. It is hoped that the change will help tackle bike crime – a recurring concern for the BMF and its members after a 7% rise in thefts across 2018 alone.

Speaking to MCN, West Midlands Police Chief Superintendent Chris Todd noted that: "It’s widely accepted that cash payments fuel vehicle crime and act as a money-laundering loophole. By making purchasers buy vehicles through bank transactions, we have a footprint of the sale which would clearly help any subsequent investigations."

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