The deterrence approach to the problem of economic crime is ineffective and its limitations lie in the three areas of criminalization, sanctions, and resources. In increasing the power of criminal law, the authoritative reproach of law is decreased. Several factors minimize the severity of the threat of legal sanctions in economic crime, such as the very nature of the corporate body as not feeling the moral force of punishment as heavily as an individual. Supplying more resources in investigation would be costly and difficult. Situational crime prevention is a new approach being researched in Europe. The purpose is to analyze specific situations in order to reduce the opportunities for, or attractiveness of, crime. Possible drawbacks of situational crime prevention are that potential offenders will switch to other types of offenses, the trouble and the expense of the method, and doubts over whether the prevention measures will actually be used. The benefits and drawbacks of administrative supervision as an alternative or a supplement to criminal law are discussed. Another recent development in Europe is the replacement of criminal procedure with administrative procedure where penalties for breaches of regulation are imposed by an administrative authority rather than the courts. Methods of control of economic crime discussed were the supervision and operation of companies by private citizens and giving greater publicity to the effects and remedies of economic crime. 4 notes and bibliography.