Money chain, cruel estate flat public

Unless and until the Govt. takes strong action to absolutely stop the free access to public funds by any Tom, Dick and Harry; our land will remain a safe haven for fraudsters and will continue to cheat the public off their hard earned money under the pretext of money chain , flats and other real estates, overseas recruitments or any other business. It is high time the Govt. machinery awakes from its deep slumber and interferes to control the management of such funds which amounts to billions of Rupees. As suggested, the actions to curb these malpractices should be absolutely fraud proof.
Here below are my sugestions. May be the Govt. could consider these while framing new rules to control the management of public funds.
1. No person is authorized to collect any funds from the public under any pretext.
2. The promoters of any business or project, who want to collect funds from the public, shall first get an NOC from the local police station and the NOC number shall be furnished in all their official documents.
3. The promoters shall open a special bank account PFB A/C (Public Funds’ Bank Account) in any of the scheduled bank’s local branches.( It is reported a similar a/c is in practice in Dubai )
4. The bank shall get all the documents necessary for opening the PFB A/C including (a) copy of NOC from the police station and (b) a detailed project report showing, among others, the period required to complete the project, the date of starting, the expected date of completion and the various stages involved and the money required to complete each stage.
5. All collections from the public for a particular project shall be directly credited to that particular PFB A/C only.
6. The promoters shall never directly collect any fund from the public and the public shall not pay any money to the promoters directly.
7. The funds required to complete the first stage of the project shall be deposited by the promoters themselves in the PFB A/C.
8. Once the project is approved by the concerned Govt. Dept., the promoters can withdraw the funds for the completion of the first stage.
9. The bank is authorized to pass the cheque for the first stage only after the approval of the project by the concerned govt. dept.
10. The bank shall not pay any money from the PFB A/C before it gets a certificate of completion of each stage from the consultants and the bank reconfirms such completion by a physical verification by its own officers.
The above steps shall ensure the following:-
1. The bank shall work as the authorized and responsible custodian of public funds for each project until it is completed and delivered to the customers.
2. The investors can sleep peacefully because their money is safe with their trusted banker.
3. The promoters will never be able to cheat the general public, which they could easily and comfortably do until now, just by printing and distributing a few superior quality brochures.
4. There is no question of the promoters disappearing with the customers money because they do not have any access to the public funds as the new policy shall be “ DO THE WORK AND THEN GET PAID “
The general public has already lost billions of rupees. How much out of these the Govt. can recover? And how much of the taxpayers money again will have to be used for the investigation processes?
Let there be proper, effective and sustainable rules and regulations before new breeds of economic offenders are created.