Australia: Revised Penalties Come Down Hard on White Collar Crime

No Comment 20 Views

The Federal Government will this week introduce legislation into parliament to increase the penalties for white collar crimes.

In a media release on Sunday, Treasurer Josh Frydenberg said criminal penalties were set to double in some cases, while civil penalties for corporations and individuals would skyrocket.

Following a review of ASIC’s enforcement powers, the Government will introduce legislation to parliament this week, hoping to strengthen sanctions for corporate and financial sector misconduct. It comes in a year when the Royal Commission has highlighted financial services organisations often engaging in misconduct, despite the existence of legislation outlawing their behaviour.

Read the original article here: financialstandard.com.au


Get headlines, breaking news, and jobs announcements delivered to your inbox. Sign up for our daily newsletter.

Share This Page
Industry Webinars
FEATURED Solutions