Data retention bill threatens ACCC and ASIC white-collar crime probes

THE war on terror threatens to undermine the fight against white-collar crooks, with a proposed law cutting off consumer and corporate cops’ access to phone records.

Silhouette of businessman talking on telephone.

THE war on terror threatens to undermine the fight against white-collar crooks, with a proposed law cutting off consumer and corporate cops’ access to phone records.

Under existing law, the Australian Competition and Consumer Commission and the Australian Securities and Investments Commission can find out who called who and when.

This helps the ACCC prove cartel behaviour by showing executives from opposing companies communicating with each other. For ASIC, it is critical to investigations of “cold calling” investment frauds and insider trading.

All these offences are criminal.

Yet both the ACCC and ASIC have been left off a list of “criminal law enforcement agencies” that would continue to have access to retained data under the proposed law before federal Parliament.

Last week ASIC commissioner Greg Tanzer told the Parliamentary Joint Committee on Intelligence and Security (PJCIS) probing the bill that his agency’s “investigative powers” could be compromised, increasing the “threat to Australians of financial crime”.

Threat ... ASIC commissioner Greg Tanzer says his agency’s “investigative powers” could be compromised.

ASIC used telecommunications data 1771 times in criminal investigations last financial year, plus a further 110 times in civil probes.

While ASIC is on the front foot by seeking to be added to the bill’s list of criminal law enforcement agencies, the ACCC is hoping to receive a special declaration from the Attorney-General that would maintain its access to data.

“We’ve got no reason to think that won’t happen,” ACCC chairman Rod Sims told News Corp Australia. “They (the Federal Government) understand our expectation.

“It’s fundamental to us,” in both criminal and civil probes, Mr Sims said.

It’s fundamental ... ACCC chairman Rod Sims.

But comments by Attorney-General George Brandis suggest inclusion on the list — or a declaration — are far from certain.

In November Senator Brandis said: “The mandatory metadata retention regime applies only to the most serious crime — to terrorism, to international and transnational organised crime, to paedophilia — where the use of metadata has been particularly useful as an investigative tool.

Senator Brandis went on to say “civil wrongs have nothing to do with this scheme”.

Inclusion not so certain ... Attorney-General George Brandis.

News Corp Australia asked the Attorney-General’s office if he intended to declare access for either ASIC or the ACCC.

Its full response was: “The Government will await the recommendations of the PJCIS.”

ASIC would not comment beyond its statements to the PJCIS.

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