Sunday, October 19, 2008

White collar crime wave

The NYT has a story on how the War on Terror has taken the heat off white collar criminals:
So depleted are the ranks of the F.B.I.’s white-collar investigators that executives in the private sector say they have had difficulty attracting the bureau’s attention in cases involving possible frauds of millions of dollars.

Here in NZ, the Labour-led government is committed to abolishing the SFO and merging its duties in a new FBI equivalent, the Organised Crime Bureau. At a time when criminal malfeasance in finance companies is becoming evident and the financial climate ripening for scammers and fraudsters, abolishing a specialised white collar crime unit is just about the stupidest thing to do.