Following yesterday’s announcement regarding the results of Project NoCargo, Liam McGuinty, Vice-President, Federal Affairs, Insurance Bureau of Canada (IBC), issued the following statement:
“IBC applauds the Canada Border Services Agency (CBSA) and its law enforcement partners for the success of Project NoCargo, which resulted in the recovery of 392 stolen vehicles valued at approximately $28 million.
“This operation underscores the importance of sustained investments in border enforcement, intelligence sharing and export inspections. The federal government, led by Public Safety Canada, deserves recognition for its leadership in addressing auto theft and advancing the National Action Plan on Combatting Auto Theft.
“Auto theft is far from a victimless crime. It fuels organized criminal activity, threatens public safety and drives up costs for Canadians. Auto theft losses now total approximately $720 million annually, more than double the $340 million recorded a decade ago.
“Yesterday's announcement is further proof that focused enforcement efforts and strong collaboration among governments, law enforcement agencies and industry partners are making a difference. IBC looks forward to continuing its work with all partners to build on this momentum and ensure auto theft continues to trend in the right direction.”
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