Wireless Wednesday Exclusive: David Glawe, President/CEO for the National Insurance Crime Bureau

Rick talks to David Glawe in this exclusive.

For anyone who owns or leases an automobile, there is a new warning: catalytic converter theft is on the rise. As the value of the rare earth metals like Palladium and Rhodium has increased, so has the theft of this auto part. Unfortunately, tracking catalytic converter theft is very difficult because the cost to replace one is usually less than the insurance deductible, making this crime under-reported. While any vehicle that has a catalytic converter can be targeted, vehicles that tend to be taller – such as pickups or other high clearance vehicle – or are in an unsecured location could be more at risk.

Have a listen to Rick and David:

Did you know?

The popularity of catalytic converter theft is because these devices contain metals that are quite valuable, namely palladium ($2,200 per ounce), and rhodium ($14,100 per ounce).

Platinum is also used in the making of catalytic converters. According to KITCO.com, as of December 2020 platinum is going for $1,035/oz, or about $33.31 per gram.

Catalytic converters contain about 2-5 grams of palladium per converter. This comes to about $140 to $360 per catalytic converter of just palladium alone. The amount of metals used varies by converter.

Though the value of the metals contained in catalytic converters is high, thieves will often receive $50-to-$250 per catalytic converter they turn in to recycling facilities.

Topics:

Why has there been such an increase in catalytic converter theft?

How is the NICB combating this?

What types of vehicles are most at risk and how can people protect themselves?

What should you do if you are a victim?

Where can listeners go for more information?

For more information please visit www.nicb.org

Mr. Glawe, president and CEO of the National Insurance Crime Bureau previously served as the Under Secretary and Chief Intelligence Officer at the Department of Homeland Security (DHS) after nomination by the President of the United States and unanimous confirmation by the United States Senate.

Prior to his service in DHS, Mr. Glawe served in the Office of the Director of National Intelligence as the Deputy National Intelligence Manager for Threat Finance and Transnational Organized Crime overseeing and integrating IC’s collection and analytic efforts. He subsequently served on the President’s National Security Council as the senior intelligence official implementing the President’s strategy on Transnational Organized Crime within the intelligence and law enforcement communities.