Financial Crime Sentences

Financial Crime Sentences.

New proposals from the Sentencing Council could see people who commit financial crimes getting sentenced on the basis of impact to the victims involved.

These new sentences could be introduced throughout England and Wales and are currently under a 14-week consultation.

Sentences would apply to crimes such as fraud, scams, money laundering and bribery. Some crimes can have a serious effect on the individuals involved. Impact on victims will be taken into account and also what effect the crime has had and how vulnerable the victim was.

Although these new sentences are now under discussion the council would only have the ability to issue these guidelines but no power for introduction of the legislation, this would be down to Parliament to chenge the law.

Our View

We believe sentencing for financial crime based upon the amount of consumer detriment and pain it causes is a just thing.

It would be interesting to see what sentence would apply if a banking group mis-sells 'en masse' with the knowledge of directors causing millions and billions in financial losses and compensation: 'Hung, drawn and quartered'?