New York Seeking New Laws to Fight High Tech Crimes

According a report released at the end of September, New York needs to update its laws in order to help authorities prosecute white-collar crimes. The report was released by the district attorney of Manhattan.

The report points out that New York’s criminal laws have changed little since the 1960’s. Laws against electronic crimes are outdated. One example of outdated laws concerns high-frequency traders. They frequently get advance looks at information that is very relevant to the market. This is much more common than insider trading, but the laws aren’t equipped to deal with the issue.

A task force established to look at the issue concluded that there are a number of areas in which laws need to be revised in order to keep pace with today’s technology. They include fraud against the elderly, counterfeiting, and tax fraud. The task force made some recommendations for how the laws should be changed in order to keep up with changing technologies.

If you believe you are the subject of a federal or New York State grand jury investigation, or have been approached by federal agents or state investigators in connection with a white collar crime in New York, you should seek legal assistance. There are a wide variety of federal and state white collar crimes, including fraud, forgery, extortion, embezzlement, bribery, counterfeiting, and many more.