Since operations began in September 2007, the Association of
Chief Police Officers Vehicle Crime Intelligence Service (AVCIS)
has announced the recovery of 289 cars, worth £3.9m, on behalf of
Finance & Leasing Association (FLA) members.
FLA members, who fund AVCIS, have seen an almost seven-fold
return on investment. FLA director-general Stephen Sklaroff said:
“The FLA takes fraud very seriously. Financial crime has a lower
public profile than it warrants and in current economic conditions
the resource dedicated to fraud should be increased.”
The FLA has agreed to sponsor the unit for another twelve months
– allowing the unit to expand its operations.
Register of ownership?
At a recent FLA briefing on motor finance fraud, the issue of an
ownership register was raised by attendees from motor finance
companies, who said a V5 certificate which shows ownership – rather
than the current V5 which only names the keeper of a vehicle –
would be a great aid when tackling fraud. A show of hands
demonstrated overwhelming support for the notion.
However, past efforts by the FLA to lobby for the change have
been fruitless, despite the fact that almost all other European
countries have a system registering who owns a vehicle, and not
just who is its keeper. But the issue of registering ownership is
on the association’s radar, confirmed the FLA’s head of motor
finance, Paul Harrison: “We are in regular contact with the DVLA on
issues relating to the legal ownership of vehicles and will be
further discussing the issue raised by delegates at our Motor
Finance Fraud Group in November.”