The Rising Issues of White-Collar Crime in Bangladesh’s Corporate Sector: Findings and Recommendations for Legal Gaps and Execution Barriers

This article analyses the increasing issues of white-collar crime in Bangladesh’s corporate sector, focusing on the weaknesses in the legislative framework and enforcement barriers that obstruct effective prevention and prosecution. The study indicates a 45% increase in reported financial crimes from 2018 to 2023, with the banking sector suffering losses above TK 25,000 crore over the last decade. The report rigorously examines key legislative frameworks, including the Prevention of Money Laundering Act 2012, the Securities and Exchange Commission Act 1993, the Companies Act 1994, and the Digital Security Act 2018, highlighting significant challenges in addressing contemporary corporate offenses. The study highlights several significant enforcement obstacles, including limited resources, inadequate training of law enforcement officials, corruption within regulatory agencies, and challenges in investigating complex financial offenses. The data indicate that approximately 12-15% of white-collar crime cases result in successful convictions, highlighting significant institutional inefficiencies. The document highlights substantial deficiencies in existing legislation, particularly in relation to developing technology, cross-border transactions, and corporate criminal liability. The analysis underscores the necessity for comprehensive reform, encompassing strengthened whistleblower protections, enhanced international cooperation mechanisms, and enhanced technical capabilities within enforcement agencies. The results indicate that Bangladesh’s goal of attaining upper-middle-income status by 2031 could only be protected by substantially enhancing its corporate crime prevention and enforcement mechanisms. This study presents crucial findings for policymakers and regulatory authorities aiming to improve corporate governance and prevent financial crime in Bangladesh.