Catalytic converter thefts have been the bane of motorists for many years. The valuable component, which forms part of a vehicle's exhaust system, contains valuable materials such as palladium, platinum, and rhodium. The recent events in Ukraine have led myriad companies and nations to enforce trade bans on Russia.
This is admirable but has led to other issues. Russia is the world's largest exporter of palladium, and the recent trade sanctions have throttled supply. As a result, prices have surged and thieves are taking advantage. Save for engraving your VIN into the component, there's very little you can do to prevent this from happening to your car - but the state of California has stepped in with a solution.