What is the ruling on fraud and deception by exploiting legal loopholes in a country such that the perpetrator cannot be prosecuted by law?

Fraud, deception, and unlawfully consuming wealth are forbidden in Islamic law, even if they exploit loopholes in man-made laws. The perpetrator is exposed to a severe warning, for Allah Almighty says: "O you who have believed, do not consume one another's wealth unjustly but only [in lawful] business by mutual consent. And do not kill yourselves [or one another]. Indeed, Allah is to you ever Merciful. And whoever does that in aggression and injustice – then We will drive him into a Fire. And that, for Allah, is [always] easy." And the Prophet, peace and blessings be upon him, said: "Whoever cheats is not from me." And his saying regarding the bankrupt person on the Day of Judgment, who comes having consumed the wealth of this one, so his good deeds are taken from him, and then he is cast into the Fire.

It is obligatory to advise the deceiver of the necessity of repentance and returning the wealth to its owners. If he does not respond, then it is obligatory to warn against him, for the Prophet, peace and blessings be upon him, said: "Religion is sincere advice."