Australian cars stolen for parts to sell to Iran and Russia, insurers say
Australian insurance companies report that organized crime syndicates are stealing vehicles to ship them overseas for parts. These parts are increasingly being sold in Iran and Russia, where international sanctions have created a lucrative black market for replacement components.
Why it matters
The trend illustrates how international sanctions can inadvertently fuel secondary black markets and organized crime activity in unrelated regions.
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Share A A A Organised crime groups are stealing cars from Australian roads, shipping them overseas and stripping them down to sell the parts in Iran and Russia, insurers have warned, as sanctions make the black market for parts increasingly lucrative.
The revelation from the Insurance Council of Australia comes amid fresh data showing Melbourne remains Australia’s vehicle theft epicentre. This is propelled by petty crime as well as organised syndicates packing stolen cars into shipping containers, sending them to intermediary ports to bypass detection before forwarding them to sanctioned nations.
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