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Cashless payment system to be introduced in scrap metal industry
26 Jan 2012

An e-money payment system is set to be introduced in the scrap metal industry in order make it easier to track down thieves.

In a written statement to MPs, home secretary Theresa May announced that all cash transactions will be banned and there will be unlimited fines for people caught trading the metal.

It is hoped that the proposed measures, which could come into force in April, will help cut the amount of metal theft in the UK as it would create a paper trail to help track down those who have tried to sell on stolen scrap metal.

A recent report from the Transport Select Committee (TSC) revealed that 3.8 million passengers experienced delayed or cancelled journeys last year due to stolen metal cables. 

Up to eight incidents occur every day, according to the report, with the number of metals thefts rising sharply in recent years.

TSC chairman Louise Ellman said: "Current legislation for regulating scrap metal dealers is out of date.

"We need urgent reform to improve the audit trail generated by the scrap metal industry so that criminals selling stolen metal into the trade can be identified much more easily."

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