Sunday, November 29, 2015

White-collar crime task force ‘doomed to failure’ unless separated into its own agency

Our sharp-eyed flatfoots
After years of lacklustre results and scathing evaluations — and its future existence up in the air — the RCMP-led task force that formed 12 years ago to go after investment swindlers and complex stock-fraud cases is taking one more shot at turning around its fortunes.

Mounties say they have now abandoned the idea of trying to turn police officers into capital-markets experts — it takes too long and costs too much. Instead, they are focused on joining up with in-house gumshoes at provincial securities commissions, who are already experts at following the paper trail, and leveraging the work they do with more traditional crime-fighting methods involving wiretaps or undercover agents.

But retired Mountie John Sliter, who was the founding director of the Integrated Market Enforcement Teams (IMETs), told the National Post financial crimes investigators are too often being pulled off to assist with other cases, such as national security files. If the government is serious about going after white-collar criminals, it needs to create a separate national securities regulator.  (more...)

Financial crimes? You want financial crimes?

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