FILE PHOTO: Pedestrians walk past the Reserve Bank of Australia building in central Sydney, Australia, March 7, 2017. REUTERS/David Gray/File Photo
SYDNEY (Reuters) - The Australian government is planning to increase penalties and lengthen prison terms for financial crimes in a bid to strengthen the enforcement powers of the corporate regulator following a series of scandals.
Penalties for financial crimes should be more than doubled, fraudulent gains of companies and banks should be seized, and maximum prison terms lengthened, an interim report released by the government on Monday recommended.
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