Speaking at an Irish Criminal Bar Association conference yesterday, Shatter said that the faith of the Irish people in the criminal justice system as regards financial crimes “has been severely tested in recent times”.
He said the bill should also help speed up current investigations and was focused on certain serious offences which carry a prison term of at least five years, such as corruption, cybercrime and fraud.The public are concerned that the investigation and prosecution of white collar crime in this country is taking too long. The complexities of financial crime create a high challenge for investigators and for prosecutors. However, we must find ways to ensure that no matter how complex the crime, no matter how important, wealthy or influential the wrongdoer may be, he or she must be brought before the courts.
The legislation will also introduce new offences for anyone failing or refusing to supply information to investigators.
However, senior counsel Dominic McGinn said that the 2008 banking crisis wasn’t caused through a lack of criminal legislation. Instead, he said, it appeared that regulatory procedures were not enforced “to their full potential”, according to the Independent.
http://www.thejournal.ie/white-collar-crime-targeted-in-new-crime-bill-2011-03/?utm_source=shortlink
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