Catalytic converter thefts are on the rise across the U.S. with some states reporting these crimes hitting record highs. The primary reason for the uptick in catalytic converter thefts is the skyrocketing prices of the metals used in catalytic converters.
The two most commonly used metals in these converters are palladium and rhodium. In the last few years, their prices have soared. Currently, platinum goes for $800 to $900 an ounce. Palladium yields around $2,200 an ounce. Before catalytic converter thefts started growing, rhodium initially sold for less than $1,000. Post-pandemic rhodium prices are $18k to $20k per ounce according to an ABC13 report.
It’s not just the price of metals driving up the thefts. The economic downturn and the criminal justice reform policies also play a big part in the increase according to the NICB Informer publication. Some criminal justice reform policies have caused a reduction in the police workforce and resources. Unfortunately, thieves and organized crime rings continue to target catalytic converters, knowing they can sell them for a generous profit and get minimal punishment if they’re caught.
Catalytic Converter Theft Data
To better understand the extent of this problem, BeenVerified conducted an analysis of catalytic converter thefts in the U.S. They estimated thefts in 2022 were 540% higher than for the entire year of 2020.
Only 15 states have seen year-over-year declines in theft. Â Out of these fifteen states, twelve It have passed laws at the local or state level. The connection between the declines and the legislation suggests that the laws could be working.
Using data from the National Insurance Crime Bureau (NICB), BeenVerified shows which states are most affected by this crime. California topped the list of states with the most catalytic converter thefts. Between 2018 and 2020, there were 19,685 reported cases of theft in the state.
Texas was second on the list with 6,227 thefts, followed by Illinois with 4,168 thefts. The top ten states with the highest number of thefts were:
- California: 19,685
- Texas: 6,227
- Illinois: 4,168
- Ohio: 2,974
- Pennsylvania: 2,883
- Georgia: 2,718
- Indiana: 2,674
- Colorado: 2,625
- Arizona: 2,439
- Florida: 2,170
These ten states accounted for over 70% of all catalytic converter thefts in the U.S. between 2018 and 2020. What’s interesting is that BeenVerified conducted an analysis of state and national statistics of Google searches for “catalytic converter theft” during this period. They have identified an intriguing pattern. There is an average of one catalytic converter theft for every 10 searches.
BeenVerified’s analysis indicates thefts more than quadrupled in 2021. They estimate more than 65,000 catalytic converter thefts occurred, which is more than a 350% increase in thefts from the previous record year of 2020. The year 2022 didn’t see improvement with almost 78,000 thefts in the U.S. for an almost 20% year-over-year increase.
Catalytic converter thefts are a nightmare for vehicle owners and auto dealerships. Not only do these thefts result in thousands of dollars in repairs, but they also potentially leave owners without a means to travel. In some cases, insurance companies will not cover the full cost of replacement, which can add to car owners’ financial burden. The good news is that businesses can do something to stop this crime.
How Can Businesses Prevent Catalytic Converter Theft?
It looks like legislation is having an impact. Lawmakers in some states including Texas are working on bills related to catalytic converters to help curb the crime. In California, for example, a new law was recently passed that requires recyclers to maintain detailed records of all purchased catalytic converters. The law aims to make it more challenging for thieves to sell stolen converters to scrap yards, as the yards will be required to keep detailed records of each purchase.
You can do more than just contact your legislators and ask them to create a new law. Businesses have the power to add barriers to avert catalytic converter theft in their parking lot, covered parking garage, or dealership lot.
For one, organized crime rings and savvy criminals tend to look for areas with many parked vehicles. It allows them to cut out many catalytic converters. Some of these places may not have sufficient lighting or much traffic. This logic impacts office buildings, auto dealerships, commercial buildings, and multifamily residential buildings. They can implement measures to help to protect the vehicles on their properties.
A powerful technology that helps prevent catalytic converter thefts is business-grade video surveillance cameras with remote monitoring. Unlike most traditional security systems, this provides proactive security due to the remote monitoring part of the solution. Security technologies that don’t use any kind of monitoring are passive because they don’t do anything until the crime has been committed.
What makes remote video surveillance unique is that it uses a combination of trained operating monitors and video analytics to watch the entire business. This setup can detect potential problems very quickly. For example, if no one should be on the property and video analytics detects human movement, it notifies the monitoring operator right away before the suspect has reached the building or asset.
The monitoring operator analyzes the situation to ascertain what’s happening. After confirming there is a potential suspect at the business, then they determine whether it’s an employee who works for the business or if it’s a trespasser. In cases where it turns out to be a problem, then the monitoring operator can use pan-tilt-zoom on the cameras to follow the suspect and attempt to issue a verbal warning over the remote speakers. The next step will be contacting the police and keeping them informed of the activity.
Here’s another example of how this pairing of video analytics and human monitors pays off. At 3 AM, video analytics detects a person walking approaching an apartment property. Some residents are night owls, they stay out late for a party, or maybe they work the night shift. Video analytics cannot confirm the difference between a resident returning home late or a potential suspect. The trained monitoring operator takes care of that.
Often, the police arrive while the interloper is on the property. By having two types of eyes on your business, video surveillance with monitoring by humans and video analytics, your security investment is maximized.
The Power of Video Surveillance with Remote Monitoring
Criminals are becoming more brazen and violent. Many security experts strongly advise against trying to stop the theft. Some states have enacted laws that prevent even trained police officers from engaging in any kind of pursuit of a suspect.
This is why businesses go with video surveillance with remote monitoring to help deter crime. Security cameras with remote monitoring have an advantage over traditional alarm technologies and security guards. This is because trained monitoring operators can respond to a problem without being fearful for their lives as they’re not located on the business properties.
Here are some videos of catalytic converter theft to show you the power of video surveillance with remote monitoring:
- Catalytic converter thief busted
- Suspects accessing multiple vehicles
- Catalytic converter theft arrest in action
- Suspect caught tampering under vehicles
Video surveillance with trained monitoring operators and video analytics adds multiple layers of security and can help with liability claims. The appearance of security cameras can stop some trespassers. The trained monitoring operators will start watching the suspects and following their progress. As they do this, they call the emergency line to report it. The police can arrive before anyone gets away.
Another layer of security comes from the high-definition security cameras with the ability to capture identifying information about the suspects. Today’s cameras can get a clear picture of the suspects’ faces, read license plates, and record everything that’s happening. The recordings can be used as evidence and reviewing of situations reported after they took place, such as liability claims.
If someone makes a claim they got hurt on the property or their vehicle was damaged, the recordings come in handy as they will show what really transpired. This has saved businesses from spending thousands of dollars on liability claims and lawsuits.
Catalytic converter thefts are soaring at an exorbitant rate. It’s creating problems for any business and property with a parking lot filled with cars. Securing your property, especially the parking areas, goes a long way in protecting people, your assets, and everyone’s vehicles.
The escalating number of catalytic converter thefts has caused problems for vehicle owners and businesses. Remote video surveillance delivers a quick ROI, saves on costs, and provides multiple layers of security. And most importantly, video surveillance with remote monitoring protects people and assets.
In working with Stealth Monitoring, you’ll gain access to innovative security solutions and a company that partners with police departments across North America. This partnership is valuable because the police often respond faster to calls from Stealth knowing there is video proof that there is a problem.
If you’d like to learn more about business security and how it can do more than catch criminals, check out the guide that shows how remote video monitoring is a crime deterrent. To learn more about security and customizing a solution that fits your requirements and budget, please contact us.
Texas Private Security License Number: B14187
California Alarm Operator License Number: ACO7876
Florida Alarm System Contractor I License Number: EF20001598
Tennessee Alarm Contracting Company License Number: 2294
Virginia Private Security Services Business License Number: 11-19499
Alabama Electronic Security License # 002116
Canada TSBC License: LEL0200704
