[SoulWalk]

from what I hear its mostly a scare tactic for companies. nothing usually comes from it.

do the police investigate and come to my house or anything?

I think it's more of a formality. And scare tactic. What do you suppose they do.
Police comes over and tear your home apart to find a little MP3-player that might not be there anymore?

If you bought a 70" TV that might be a bit different. Because you can't hide it that well