Halifax Home Insurance: Illegal goods market worth £1bn

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Halifax Home Insurance: Illegal goods market worth £1bn

Unlicensed traders of goods have made a collective £1 billion from Britons in public houses, Halifax Home Insurance has claimed today.

According to the insurer, some 5.6 million British adults admit that they have purchased goods illegally from an unlicensed trader in a licensed property.

Another 3.7 million people that participated in Halifax's research said they would knowingly buy stolen goods in a pub if they were offered at the right price and 2.4 million of these would still buy the goods even if they appeared to have been stolen from someone's home.

The most common illegal purchases are DVDs, CDs, videos, clothing, electrical items, mobile phones and jewellery, Halifax Home Insurance states.

"Millions of Britons may be unwittingly fuelling a cycle of theft by making it easy for burglars to resell their products in pubs and bars," said Vicky Emmott, senior underwriter for Halifax Home Insurance.

"People should be aware that this is not a victimless crime, their pursuit of a bargain is part of the reason burglary remains a widespread social problem."

Ms Emmott warned people that would consider buying goods illegally that they could face criminal prosecution for handling stolen goods if the items they buy are found to be from a burglary.

People concerned about the possibility of their house being burgled can find out about the cover options offered by Halifax Home Insurance on the company's website.

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