Since 2006, our Government has taken clear and decisive action on serious and violent crimes and we continue to work hard to keep law-abiding Canadians and their families safe. However, there is another type of crime that is more devious and illusive in nature – white-collar crime. It`s an important issue that our Government takes very seriously because it has affected many Canadians and the victimization that results for families, can be devastating.

On September 15, 2009, the Honourable Rob Nicholson, Minister of Justice and Attorney General of Canada, together with the Honourable Christian Paradis, Minister of Public Works and Government Services, and Daniel Petit, Parliamentary Secretary to the Minister of Justice, announced our Government`s intention to introduce legislation to address the problem of white-collar crime.

The proposed legislative amendments will include creating a mandatory jail sentence for those who commit serious fraud and additional aggravating factors to justify longer sentences. Furthermore, the upcoming legislation will consider the issue of restitution, so offenders are held responsible for the immensely devastating financial losses suffered by their victims and therefore, be required to provide restitution.

Our Government also took a stand against white-collar crime when it introduced Bill-C-42, in June 2009. The Ending Conditional Sentences for Property and other Serious Crimes Act proposes to end conditional sentences (for example, house arrest) for criminals who commit theft over $5,000. In addition, the Honourable Jim Flaherty, Minister of Finance, is working toward the establishment of a federal securities regulator, which would strengthen both regulatory and criminal enforcement.

Victims of white-collar crime have spoken and we are taking action. Our Government is sending a clear message that committing fraud will have serious consequences. We will work to restore faith in our criminal justice system, especially for those who have been victimized, and ensure that the punishment does fit the crime.