Closed petition Regulation for pawn shops and cash for gold industry

Closed on 5 August 2014

Pawn/Cash for Gold businesses are being used by criminals in a similar manner to money launderers. Stolen gold is sold for low values and melted down & resold. The seller gets “clean” money the buyer gets “clean” gold whilst the victim is left to suffer. The criminals sell stolen jewellery probably to feed drug habits, whilst the proceeds are used to fund organised crime and criminal gangs. The businesses should be under a legal obligation to Photograph the person selling the jewellery/other items & store this on a database,copy the sellers photo ID & proof of address,be prohibited from buying items without the above being provided, it should be a requirement that they cannot melt down jewellery or offer it up for sale for a period of 4 months (also including other items of value) to deter suspect businesses, give police greater powers to enter shops where stolen goods are suspected to be.If the industry is regulated it will deter thefts making it harder to dispose of stolen items.