A good example of this type of crime is the Peter Foster pyramid scam he allegedly was running over the last 12 months.
He was living at Byron Bay during that time renting 2 houses through a friend.
The media had mentioned he was in the area several times and ACA found him there yet the police couldn't.
In the meantime he allegedly attracts the likes of Alan Jones to recommended his scheme and makes millions.

My only real criticism of the article is its undue emphasis on bankers as perpetrators of while collar crimes. I would have though that company directors and managers (only a minority) are just as guilty.

Corporate crime (including fraud, insider trading, lack of timely and complete disclosure to investors, insolvent trading etc.) is rampant in this country. ASIC seems completely impotent and has a poor record both in policing and in launching successful prosecutions.

Bren says it all for me! Got SFA to add!
Except, these people should be locked up and the key thrown away! Ordinary folk can do far more time for stealing far less! The only real difference, they're upfront with their criminal intentions!
And don't tell me it makes some kind of difference is violence or its threat is included.
The (legally disarmed) battered or wounded home owner/business owner may survive financially intact, a beating/wounding; but rarely if ever, white collar caused Bankruptcy or property/asset forfeiture!
We the people need to get back into the banking business, given the billions in profits being ripped off of, we Australians! By machine men, and can't lose, robotic business models!
That like the pokies, ensure the house always wins!
Besides, a return to affordable housing and even more affordable venture capital, [interest pegged for the full term of the loan,] would make a very pleasant change, as would the certainty it would engender!
Rhrosty.

Well the HSBC has been caught in Britain laundering $ billions in drug money but the Govt decided it might affect the economy adversely.They are too big to jail.

They give them fines that in no way hurt their profits. The interest rate fixing scandals have all been swept under the carpet.

We have allowed the banking system to create from nothing all the money as debt, for our Govts and economies to function. World debt is now 5 times the GDP of the planet and growing exponentially. It can never be repaid.

The banking system owns us and our Govts.

I have absolutely no problem with the parts of this article that are factual (i.e. except the bits that are pure speculation), but the breathless indignation tends to obscure the issues, rather than highlight them.

In my view, the legislation in this area is somewhere between ten and twenty years out of date, creating a fundamental difficulty when assessing the likelihood of success in court. Lawyers tend to be the only beneficiaries in situations like this - which is a great shame, since so many politicians are also from the legal fraternity, and are reluctant to upset their friends.

The other missing piece in the saga is - who wins, and who loses. A classic example is what the author describes as the "Subprime Mortgage Scandal". We called these in Australia "Lo-doc" loans, indicating that they were made to people who had less than the usual amount of documented evidence of borrowing capacity - a steady wage, for example - which was typical of small business owners.

Despite all the slightly hysterical descriptions of isolated cases - and yes, there have indeed been instances of individual, rather than systemic, fraud - there is no parallel with the US situation, where loans of this type were bundled together and sold as AAA Securities. And the reality is that the vast majority of these loans - and there have been many thousands - are above water, and being properly serviced. In other words, the ability to borrow on lo-doc terms has benefitted a great number of people.

And a word to Arjay.

>>World debt is now 5 times the GDP of the planet<<

Rubbish.

http://www.economist.com/content/global_debt_clock

But let's imagine, just for a moment, that your figure is correct. Who owes what, and to whom? And another thought - who loses, if a debt cannot be repaid? Sadly, your complete lack of understanding of the basic facts of finance effectively disqualify you from commenting.

Not that this has ever stopped you, or ever will.

Ah deceptive Periclueless your link is only Govt debt. Total Aust debt is over 5 trillion and we have debt half of most Western countries.
http://www.australiandebtclock.com.au/

So we have a GDP of $1.5 trillion with a $5 trillion total debt. So our debt is 3.3 times our GDP. Our housing is 40% over valued.Our net foreign debt is approaching $1 trillion.

I think it was James Rickards who said our world debt is 5 times world GDP