Getting Tough on White Collar Crime

The Conservative government has taken another step to get “tough on crime” with the focus involving white collar crime. The move to impose harsher penalties comes after a number of high-profile cases in Canada this year, including the $400 million fraud in Alberta, and the Montreal Investment dealer in Quebec. This legislation also comes after Bill C-25, which Parliament approved last week. The new legislation will change existing laws so that early parole becomes a privilege, not a right. Currently, non-violent criminals convicted of a first offence to be eligible for “early parole after serving just 1/6 of their sentences, and fill parole after serving 1/3 of their sentences.” The Minister of Public Safety claims that white collar criminals are granted parole in these circumstances unless their deemed violent. With the new legislation, the criminal would need to demonstrate that they’ve earned their parole. The Minister states “while tougher sentences for white-collar criminals are welcome, they won’t be effective unless parole laws are also changed.” The new legislation would also give judges the ability to order restitution to victims of crime and bar white-collar criminals for life from handling people's money.This new measure would cost tax payers approximately $600 million/year to pay to keep the non-violent criminals in prisons. The minister claims the cost as a “bargain” relative to the amount of money white collar criminals steal. Critics claim that "Tying the hands of judges in this way essentially sends the message that we think judges are too stupid to make appropriate decisions." Duff Conacher, a co-ordinator for Democracy Watch, claims "The regulators either don't have the resources or the tough enforcement attitude to have a high chance of catching fraudsters," and that the U.S. experience shows that “high penalties do not decrease the rate of corporate crime, even in countries with a national securities commission.”

Source: http://www.cbc.ca/politics/story/2009/10/26/parole-early-law-non-violent-van-loan.html

http://www.cbc.ca/politics/story/2009/10/21/can-white-collar.html