ASIC seeking powers to read emails and texts

The Australian Securities and Investment Commission has called for sweeping powers so it can access phone call and internet data for its war on white-collar crime.

Not only does the authority want the powers to intercept the times, dates and details of telecommunications information, it also wants to access the contents of emails, social media chats and text messages.

This is more power than the Australian Federal Police and the Australian Security Intelligence Organisation have sought to assist the crime agencies in investigating terrorism and murder suspects.

A parliamentary inquiry has been set up to examine controversial proposals to force telecommunication companies to store details about every Australian's phone and internet use for up to two years. Some of that information, including telephone logs, could then be subject to law enforcement agencies with a warrant. Other information could be accessed without a warrant. Currently, it is up to telcos to determine how long they store that information.

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