(PRWEB UK) 25 January 2013
Scrap metal dealers are facing regular checks to ensure they are sticking to new legislation introduced at the end of last year. The ruling which outlaws cash transactions aims to keep track of transactions via electronic payments or by cheque in a bid to reduce the amount of untraceable scrap metal crime.
Durham’s Police force has made 40 unscheduled visits to dealers throughout the district and has found no breech of the law so far. Sergeant Andy Sutherland explained, “We have been pleased to see the cashless regulations are being observed and according to the operators, business has not suffered as a result. As well as going into the yards themselves we will be checking with itinerant traders to test for their compliance with the new regulations.”
The ruling has played a large role in decreasing scrap metal crime by 75% over the last 18 months.
SmartDebit, a leading UK electronic payment processor has seen a recent increase in businesses looking to make more digital transactions. A spokesperson from the company added, “There are many benefits for businesses increasing their use of electronic payments including security, convenience and speed. The scrap metal industry faced criminal issues dealing in cash transactions that were hard to track down – electronic payment has quashed this.”
SmartDebit continues to follow electronic payment news closely.
SmartDebit is UK’s leading Direct Debit service providers, specialising in payment processing services since 1998. A Bacs approved Bureau, scoring ‘Excellent’ in all five categories of the Bacs audit, and ISO 27001 compliant. Providing a complete range of services: Outsourcing; SmartDebit-Admin cloud based portal; SmartDebit-Online payer sign up; SmartDebit-API integrated solution and SmartDebit-Contingency.