Executive Director of the Economic and Organised Crime Office, EOCO, Raymond Archer, has defended the agency’s decision to set high bail conditions, saying the approach is grounded in practical experience with major financial crimes.

Addressing the 3rd annual national fraud conference, he said EOCO is unfazed by complaints from lawyers who think the office is unsettling the traditional bail regime, insisting the agency will not soften an approach forged through years of dealing with sophisticated criminal networks.

Raymond Archer likened the bail to the collateral demanded in a risky loan, arguing that leniency gives powerful suspects every incentive to walk away without consequence.

He extended the logic to economic crimes, describing situations where investigations involve losses of $90 million or more. When bail is set far lower, he believes suspects have little incentive to stay within the justice process.

"I consider bail insurities, or I liken it to the collateral you give for a loan. When you give a collateral that is less than the loan you take, there's no motivation to pay back. You can let the loan run its length, and then there's no collateral to fall back, and you go into default. In the same way, bail is connected to a case. So imagine if I have a case of $100 million, the exposure or the risk. We do a lot of investigation for the banks, for example, where somebody has stolen $90 million," he said.

The EOCO boss emphasised that suspects involved in high-profile cases often possess significant financial strength, which makes setting lower bail conditions ineffective.

He questioned how “good judgment” should be interpreted when setting bail in cases involving tens of millions of dollars.

"The word surety means that if something happens, you can fall under surety. But what is the common sense in having a $90 million crime and a $10 million bail? If I was the criminal, I would pay him off with some profit and leave. The other question is, when you want to record and the subject raises objections, what do you do?" he asked.