People found guilty of white-collar crimes are facing tougher sentences starting today.

Justice Minister Rob Nicholson says the federal government's long-promised white-collar crimes legislation has officially come into force.

The stiffer penalties include a mandatory two-year prison sentence for fraud over $1 million.

Sentencing decisions will now take into consideration certain aggravating factors, like the impact of the fraud and the complexity of it.

The legislation will also require judges to consider restitution, requiring a guilty party to repay victims.

Nicholson made his announcement today in Quebec, where calls for tougher sentences for fraudsters has been vocal following a high-profile Ponzi scheme.