In what can be regarded as a further product of the fallout from
the banking crisis, the new Criminal Justice Act 2011 (the
"Act") was signed into law on 2 August
2011. The Act introduces substantial changes to the law relating to
the investigation of white collar crime. Companies and individuals
operating in Ireland should be aware of its provisions and the
obligations it places upon them, not least because of the criminal
sanctions it prescribes.
For the purposes of the Act, white collar crime encompasses
criminal offences in the areas of banking and finance, company law,
money-laundering, fraud, corruption, competition (anti-trust),
consumer protection and cyber-crime. Part 3 of the Act, which came
into operation on 9 August 2011, gives new powers to those
conducting criminal investigations to seek orders from the District
Court compelling the production of documents and information
relevant to the investigation of such white collar
crime.
