Members of the Finance & Leasing Association (FLA) have agreed to sponsor the Vehicle Fraud Unit of the ACPO Vehicle Crime Intelligence Service (AVCIS) for a sixth consecutive year.
Over the past 12 months AVCIS has recovered 350 cars, worth almost £5.5m, for motor finance companies in the FLA, as well as making 80 arrests for associated crimes.
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FLA head of motor finance Paul Harrison said: By catching fraudsters our partnership with the police helps motor lenders minimise their financial losses. This in turn plays a vital role in keeping finance costs low for consumers. The success of the unit is sending a clear message to fraudsters that their actions will not be tolerated.
Since 2007 AVCIS has recovered 1,500 cars worth more than £25m, and almost 400 arrests have been made.
Following the success of the Crushwatch scheme run between the FLA, AVCIS and HPI since 2009 to identify impounded cars with outstanding finance, the organisations announced last week a second scheme to identify and return untaxed cars with overdue payments.
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By GlobalData
