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Halifax: Stolen goods drive up prices

12 May 2006
According to a recent survey, Britons buy up to £1 billion-worth of black market goods every year and many people do not seem to mind.

Halifax Insurance has said that although you may not realise it, buying stolen or illegally copied items will only encourage the trade further and result in an increase in crime and therefore an increase in insurance premiums, affecting everybody.

Lucy Crooke, a spokesperson for Halifax Insurance, claims that apathy to the issue is the biggest problem.

"The most worrying thing is that, from our research, many people wouldn't be deterred if they knew what they are buying are stolen items," she said. "Our message is it could be your home."

Ms Crooke claimed that the "vicious cycle" could not be prevented if people did not take it seriously and that it would only hit home when the financial and emotional cost was obvious – when they became the direct victims and their insurance premiums rose as a result.

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