'Most serious' financial crime targeted as RCMP and Alberta Securities Commission team up

A new partnership has been created to crack down on white collar crime in Alberta, the Alberta Securities Commission and the RCMP have announced.

The Joint Serious Offences Team (JSOT) will help tackle the most serious securities offences such as repeat offenders, serious fraud,and breaches of court orders and bans,police and ASC officials say.

"It will allow us to hopefully achieve penalties, like jail time up to 14 years, which previously we were not seeing," saidASC chairperson StanMagidson.

Magidsonsays they've also been noticing more links between securities offences and organized crime.

"This collaboration helps safeguard Albertans from the most serious securities offences while deterring future offenders by prosecuting lawbreakers to the fullest extent," he said.

TheASC is the regulatory agency responsible for protecting investors and administering the province's securities laws.

He says collaboration with the RCMP should provide better access to provincial, national and international information and intelligence.

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"It creates opportunities to act on live intelligence, avoid duplication of investigations and ensure cases are prosecuted in the most appropriate forum," said Insp.Allan Lai, Acting Officer-in-Charge of RCMP KDivision, which is responsible for federal policing in Calgary.

TheJSOTis comprised of investigators, forensic accountants, legal professionals and RCMP officers.