Market for Stolen Vehicles in SADC is Growing!
30% of stolen vehicles make their way to SADC regions!
Bryte Insurance, a business risk specialist recently released its Q4 2017 Crime Tracker. The Q4 2017 Bryte Crime Tracker measures quarterly the annual change in crime-related claims (hijacking, robbery, theft and malicious damage) committed against South African businesses. Most noticeable is the following:
- A sharp rise in incidents of crime against business in Q4 2017
- A rapid rise in incidents of malicious damage
- Theft of vehicles and vehicle hijackings dominate.
“Generally, vehicles that are under five years old are the most sought after and with the market for stolen vehicles in the SADC region rapidly growing, four-wheel drive vehicles are particularly targeted to navigate the poor road infrastructure across the region. Toyota’s are also prominent on the list of most stolen vehicles as the engines may be used in minibus taxis,” says Cloud Saungweme - Chief Claims Officer, Bryte Insurance. “Vehicle tracking devices, alarms, telematics and other anti-theft features are critical to lowering the rate of theft but equally collaboration amongst insurance companies can be key to combatting such losses. The Insurance Crime Bureau (ICB), estimates that 30% of vehicles stolen make their way to SADC regions and is doing a fantastic job of assessing and flagging such crime trends. Additionally, the ICB works closely with the government to monitor border posts in an effort to recover stolen vehicles, benefiting consumers, insurers and the economy at large.”
In the past few months DataDot SA have been involved in a number of successful operations where vehicles stolen in South Africa have been recovered in Lesotho with altered details. DDSA was able to establish the correct identity of the vehicles due the DataDot microdots found on the vehicles.
Download the Crime Tracker May 2018 Report.