Deterrence and Prevention in Economic Crime Control: A Comparative Study of India’s Fugitive Economic Offenders Act and Australia’s AML/CTF Framework

Ms. Reva Gupta & Dr. Mudassir Nazir
DOI:

Abstract

Financial crimes, especially money laundering and the escape of economic offenders, are ongoing problems for national economies and the global financial system. This study examines and compares the laws and institutional responses of India and Australia. It focuses on India’s Fugitive Economic Offenders Act (FEOA), 2018, and Australia’s Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) Act, 2006. Through a qualitative comparison of legal provisions, enforcement methods, and cooperative frameworks, the research highlights the different ideas behind the two systems. India focuses on deterrence and asset seizure, while Australia uses a preventive, compliance-driven model. Although both systems meet Financial Action Task Force (FATF) standards and emphasize international cooperation, differences in institutional independence, legal protections, and technology use greatly affect enforcement results. The paper ends with suggestions for improving India’s framework. It recommends a hybrid approach that keeps its deterrent focus while adding preventive measures taken from Australia’s model.

Keywords

Fugitive Offenders, Money Laundering Prevention, Asset Confiscation, Financial Regulation, Transnational Crime, Compliance Systems, And Financial Intelligence Units.