Minister for Enterprise establishes new white collar crime agency

Varadkar signs orders allowing for the commencement of the new Corporate Enforcement Authority’s activities

A new white collar crime agency that will replace the Office of the Director of Corporate Enforcement (ODCE) has been established this week.

Minister for Enterprise Leo Varadkar has signed orders allowing for the commencement of the new Corporate Enforcement Authority’s activities. Announced last December, the new agency is the centrepiece of the Government’s promise to scale up the fight against white collar crime.

While it will initially have the same powers as the ODCE, the Government has promised to increase staffing numbers at the agency by 50 per cent to a total of about 70, doubling the number of in-house gardaí working for the authority to 16.

Its budget has also been increased by roughly 20 per cent in recent years to €6.3 million for 2022. “New powers and other enhancements for the new authority are matters that will continue to be actively considered,” the Department of Enterprise said in a statement.

Mr Varadkar said he is confident the additional funding and extra staff will ensure the agency can “make a difference” and meet the demands of its function.

Ian Curran

Ian Curran is a Business reporter with The Irish Times