Cash Converters are here to protect you from stolen goods.
If you believed the media you’d think Cash Converters was not a friendly neighbourhood retailer but a front for an underworld operation.
It’s simply not the case.
In the 2015/16 financial year a miniscule number of goods bought and sold by Cash Converters - less than 0.01% - was later revealed to be stolen.
This number is kept so low because of our stringent internal processes and the work we’ve done with the police.
They’re our partners in making sure our customers don’t take home items that have fallen off the back of a truck.
When you sell us an item it is the beginning of a detailed process in which we set out to establish that everything’s above board.
The first thing we do is key into our systems a description of the item.
We record its make, colour, serial number and any markings and engravings or identifying features.
At the end of every day this information – including the seller’s ID from our required 100 points ID check – is uploaded into a police database.
This enables the police to cross-check the information we supply against any reported thefts.
We hang on to the goods for 7 to 14 days (depending on state legislation) to give the police plenty of time to their job.
After we get the okay the goods are thoroughly cleaned, tested and put onto our shelves.
If any goods are later found to be stolen we do our best to ensure they’re returned to their rightful owner.
And to make sure that justice is served Cash Converters help police catch the offender and our staff are more than willing to testify against the offender.
Our process of preventing the trade of stolen goods is so thorough that offenders may also be prosecuted for fraud.
If you sell an item to Cash Converters you must sign a declaration saying you own the property.
This is a legal document so if you lie you open yourself up to prosecution.
With these checks and balances in place it’s no wonder that those seeking to pass off stolen goods prefer to give Cash Converters a wide berth.
Instead of risking prosecution they head to second-hand websites, most of which are unregulated.
In other words, stolen goods may still be a problem within the second-hand good community, but Cash Converters are here to protect you.
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