Financial Crime Mediation in Pakistan: Legal Ambiguities, Global Trends, and the Restorative Justice Approach
Keywords:
Financial Crimes, Mediation, Restorative Justice, Money Laundering, Pakistan, Plea Bargaining, Legal Frameworks, Nab, White Collar CrimesAbstract
Financial crimes pose significant challenges to legal and economic systems worldwide, with varying definitions, enforcement mechanisms, and jurisdictional disparities complicating their prosecution. This paper examines the mediation of financial crimes through a restorative justice lens, with a specific focus on Pakistan. The study begins by defining financial crimes, distinguishing them from related concepts such as financial abuse, and exploring their diverse categories—including fraud, money laundering, and corruption. It highlights jurisdictional ambiguities in legal frameworks and enforcement, particularly concerning predicate offenses and global compliance. The paper then evaluates the application of mediation in financial crime cases, assessing its suitability, global trends, and procedural complexities. It discusses the advantages and disadvantages of mediation, emphasizing restorative justice principles while addressing challenges such as parallel criminal proceedings and jurisdictional variations. Finally, the study investigates Pakistan’s legal and regulatory framework for financial crimes, analyzing the efficacy of mediation mechanisms and plea bargaining. It critiques existing enforcement gaps, ethical concerns, and ongoing reforms, offering recommendations to strengthen financial crime mediation in Pakistan. By integrating comparative legal analysis with case-specific insights, this research contributes to the discourse on alternative dispute resolution in financial crime enforcement, particularly in developing jurisdictions.
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