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Cash transactions to be banned in scrap metal industry
Home Secretary, Rt Hon Theresa May MP, has outlined, in a written statement to Parliament, plans to address the ‘urgent’ need to reduce metal theft in the UK. In the statement, the Home Secretary describes laws to prevent cash transactions within the scrap metal industry and increased fines for trading stolen material. These measures will be added as amendments to the Legal and Sentencing Bill currently before Parliament. The Home Secretary argues that cash transactions encourage and enable poor record keeping and tax evasion within the metals recycling industry and anonymous, low-risk exchanges for criminals dealing in stolen metal goods.
