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White Collar Crimes Project

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39 views

White Collar Crimes Project

Uploaded by

outrointro9
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Topic: A Critical Study on Laws Related to White-Collar Crimes in Pakistan.

(PROJECT)

Course Title: Law of Business Organization

Submitted To: Ms. Zahish Farid khan

Submitted By: Aliba Tariq (2021-LLB-001)

Alisha Anwar (2021-LLB-002)

Alishba Mohsin (2021-LLB-003)

Amna Ishtiaq (2021-LLB-004)

Aqsa Qureshi (2021-LLB-006)

Ayesha Maqbool (2021-LLB-008)

Wajiha Ghani (2021-LLB-033)

Semester: LLB VI

Submission Date: 18th July, 2024

Department of law
Fatima Jinnah Women University, Rawalpindi

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SUMMARY

Introduction

This review article critically analyzes the article "Critical Study on Laws Related to White-Collar
Crimes in Pakistan," which examines the legal frameworks, challenges in enforcing these laws,
and the broader implications for society of white-collar crime, a non-violent crime committed by
high-status individuals for financial gain.

Findings

The article starts by detailing the main legislative tools in Pakistan for combating white-collar
crime. These include the National Accountability Bureau (NAB) Ordinance, 1999; the Federal
Investigation Agency (FIA) Act, 1974; the Anti-Corruption Establishment (ACE) Acts at the
provincial level; and the Securities and Exchange Commission of Pakistan (SECP) Act, 1997. Each
of these laws tackles different aspects of white-collar crime, granting various investigative and
prosecutorial powers to the respective agencies.

NAB Ordinance, 1999 Defines various forms of corruption and specifies punishments. NAB has
extensive investigative powers and can freeze assets during investigations. However, it faces
criticism for potential political misuse, jurisdictional overlaps, and concerns regarding due process.

FIA Act, 1974: Empowers the FIA to investigate federal offenses, but it struggles with resource
constraints, limited jurisdiction, and bureaucratic inefficiencies.

ACE Acts: Address localized corruption at the provincial level but face challenges such as limited
reach, political interference, and resource limitations.

SECP Act, 1997: Mandates the SECP to regulate and supervise the corporate sector, promoting
transparency and accountability. However, its enforcement capabilities are often compromised by
powerful corporate entities and resource constraints.

The article emphasizes the complexities of white-collar crimes, which often involve sophisticated
schemes requiring specialized investigation techniques. The current system in Pakistan is not
adequately equipped to handle these complexities, leading to delays in prosecution that allow

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suspects to tamper with evidence or escape punishment. Additionally, the high burden of proof and
well-resourced defenses of white-collar criminals present significant challenges. Political
interference further hinders the process, exacerbating the difficulties faced by enforcement
agencies.

Conclusion

The article "Critical Study on Laws Related to White-Collar Crimes in Pakistan" provides a
comprehensive overview of white-collar crime in Pakistan, highlighting its complexities,
challenges faced by enforcement agencies, and significant social and economic impacts. It
emphasizes the need for stronger regulatory frameworks, enhanced operational capabilities, and
comprehensive strategies to prevent and mitigate these crimes. However, the article could benefit
from greater clarity and focus, including more detailed exploration of specific case studies and
examples of successful prosecutions. Additionally, the article could provide more quantitative data
to substantiate claims and illustrate the scale of the problem. The article also emphasizes
preventive measures like improving internal controls and workplace ethics, but could be further
elaborated on how these measures can be systematically implemented and monitored. Expanding
the comparative analysis to include best practices from other countries could also provide valuable
lessons for Pakistan.

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