This is admitted fact that the accountability mechanism and legal framework is based on Political will, role of civil society, presence of clean political and democratic governments and corruption free society. However, these elements have never been remained essential in our political and legal systems. In this regard, in third world countries, especially in Pakistan the political leadership and society have surrendered their pivotal role and responsibility being leaders and citizens. The institutions are weak and the society is submissive to elite political power, status and influenced legal framework. In Pakistan the power and authority is not exercised by the institutions but by the individuals. The emergence and advent of the idea of white-collar crime is quite novel in the field of criminology. White collar crime in itself is not new but the generalization of such phenomena and the incorporation of facts concerning attitude, response and unlawful behavior of the upper classes into theories of crime causation is a product of recent efforts (Newman, 1958). The term “white-collar crime” was given by well-known sociologist, Edwin Sutherland during his presentation in 1939 in front of the American Sociological Association. Some critics opined that white-collar crime was imprecisely and lightly defined by Sutherland (Robin, 1974).