Monday, May 29, 2023

Highlights of the Economic Offenses Act passed by the Lower House. By Francesca Franzani, Director of the Albagli Zaliasnik Compliance Group

The Economic Offenses Act was sent by the lower house this week. The project originated on October 18, 2019 with the aim of hardening the penalties for so-called “neck and tie crimes”, echoing social needs and the disagreement of many citizens. Who demanded a change in this matter regarding their demands.

After almost three years of discussion, this new law will bring radical changes in criminal matters. It addresses both the strengthening of penalties for these offenses as well as the expansion of liability for legal persons who—to date—have been exposed to a criminal conviction only for the commission of a restricted list of more than thirty offenses. Could ,

However, Francisca Franzani, director of the Albugali Zaliasnik (AZ) compliance group, says that, although it is progress, “the new law brings more doubt than certainty as to whether we are really ready for this huge challenge. With respect to the legal person In recent years, most large companies have been concerned with the adoption of compliance systems and crime prevention models, however, it is still not possible to say that this is an essential and important issue. Appears to be more important”.

The project proposes a substantial expansion of the list of offenses for which a legal person may be liable, going on to include a list that includes more than 100 different criminal offences. At the same time, it tightens penalties and eliminates benefits that to date apply to natural persons who commit crimes because of their position within a business organization, result in severe sanctions, and a range of circumstances. With effective prison sentence. ,

Franzini explains that “These changes force us to answer some questions, such as: Will the harassed entity have the capacity and resources to be able to carry out this extensive harassment? Will companies be able to cover all those risks?” Will they be able to adapt their models to the crimes they are exposed to? Will it be necessary to create a special unit in each prosecutor’s office in charge of prosecuting legal entities? All these questions are not specifically addressed by the law. “.

Experts say that “it is essential that before the future law comes into force, which is expected within a year of its promulgation, both the public ministry and the special police, and even the courts of justice , First trained by experts in this matter, to put into practice the true spirit of the standard, and do not waste some of the progress made in the past 15 years in this matter.

Franzani concludes that “if the purpose of the law is to systematize a range of crimes and to eliminate abuses committed by natural persons under the auspices of a legal person and, in turn, to increase deterrence from a criminal point of view beyond administrative sanction , Efforts must be made so that we all cooperate in the implementation and compliance of the law. This means that both companies and individuals must commit to preventing and eradicating economic crimes. To this end, an ethical culture in all areas And it is essential to promote transparency, promote training and awareness of the risks associated with these practices, and establish effective oversight and control measures.

Nation World News Desk
Nation World News Desk
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