A new report has raised questions about the efficiency of how corporate watchdog Australian Securities and Investments Commission (ASIC) used its powers to investigate and prosecute white-collar crime.  
Written by economist John Adams, the report shows that only 0.7 percent of suspected offences reported to ASIC were investigated in 2020, compared to two percent five years ago. 
Only one in 50 of these investigations resulted in prosecution. Meanwhile, an overwhelming ninety-one percent of reports by corporate whistleblowers resulted in no action being taken.  
According to a report by the Australian Broadcasting Corporation (ABC), Adams previously told former Liberal senator Arthur Sinodinos that “potential predators in the market have more confidence to actually engage in illegal activity.”…