The Federal Government is to increase civil penalties for white-collar crime to match those imposed overseas.

Breaches of legislation administered by the Australian Securities and Investments Commission (ASIC) will attract penalties for individuals of either $1.05 million, three times the value of benefits gained or three times losses avoided, whichever is greater.

Companies will be penalised either $10.5 million, three times the value of benefits obtained or losses avoided, or 10% of annual turnover in the year prior to the misconduct, depending which is greater. The penalty for companies is capped at $210 million.

ASIC will be able to access infringement notices to respond to breaches of the Corporations Act and will be given power to demand repayment of criminal proceeds for civil penalty proceedings.

A Senate inquiry into white-collar crime has also raised concerns about the difficulty of proving some offences. However, the Government will not consider reforms that would lower evidentiary standards for certain civil offences.