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White Collar Crime Report must be acted upon - Pearse Doherty TD

23 October, 2018 - by Pearse Doherty TD

Sinn Féin Finance spokesperson Pearse Doherty TD has welcomed the Law Reform Commission’s Report on White Collar Crime and has said it must now be acted upon.  

The Donegal TD said that he noted in particular the recommendation that recklessness be equated with fraud under a new system but pointed out that an offence of reckless lending should still be on the cards.

Deputy Doherty said:

“I welcome this report from the Law Reform Commission. It is a well thought out report that puts the issue of white collar crime back front and centre in politics where it belongs.

"I have been pushing legislative and other solutions to white collar crime including a Bill to make it a crime to lie to the Central Bank. 

"Crucially the report backs the idea of individual accountability saying that senior executives should be held accountable if they did not carry our due diligence.

"I warmly welcome too the focus on recklessness and I note the proposal that reckless behaviour can amount to fraud although my preference is still for an offence of reckless lending to be put into law. 

"This is the case in Britain and I still believe it would be appropriate in Ireland too.

"I note the Commission’s recommendation that full resourcing of any new bodies is necessary to ensure they can do their job.  

"It is a message that must be heard in government buildings.

"I will continue to push legislatively and through other actions for tougher penalties and rules for the white collar sector of our economy and society. 

"Individual responsibility and jail sentences where appropriate must be part of the solution. A thief is a thief whether in the local shop stealing cigarettes or in an international bank stealing billions from the people.”

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