File Copyright Online - File mutual Divorce in Delhi - Online Legal Advice - Lawyers in India

White Collar Crime

White collar crime are the crimes committed by someone of high status throughout the course of his occupation. it's against the law committed by well skilled or a business person who are sometimes involves a sort of monetary thievery or fraud.

The term White collar crime was outlined by social scientist king soprano in 1939. These crimes are non-violent crimes committed by business folks through deceptive activities who are ready to access massive amounts of cash for the aim of economic gain.

White-collar crime may be a nonviolent crime committed for gain. Securities fraud, defalcation, company fraud and concealing are the samples of white-collar crime. Not each crime involves an evidence. some crimes are committed right beneath the victim's nose. These kinds of cries will value voters several dollars!

Types of White-collar crime

  • Bank Fraud:
    Bank Fraud means that to interact in such activities so as to chisel a bank or exploitation illegal means that to get assets control by monetary establishments.
  • Graft:
    Bribery means that giving cash, product or any gift to somebody so as to own management over his actions. it's against the law whether or not somebody offers or accepts a bribe.
  • PC Fraud:
    Computer frauds are such frauds that involve hacking or stealing data of another person.
  • Extortion:
    once someone illicitly obtains someone's property by actual or vulnerable force.
  • Embezzlement:
    once somebody entrusted with cash or property uses it for his own use, it's defalcation.
  • Tax fraud:
    Tax fraud means that evading tax by providing wrong data in tax forms or illicitly transferring property so as to avoid tax.
  • Money-Laundering:
    concealing means that the concealment of origin of illicitly obtained cash.

Causes of White-Collar Crime

White collar crime is committed because of the reason of greed or economic instability. however, many times these crimes are committed because of the reason of situational pressure or the inherent characteristic of obtaining over different.

Not extremely a crime:
Some offenders persuade themselves that the actions performed by them don't seem to be crimes because the acts concerned doesn't tally street crimes.

Not realizable:
Some folks justify themselves in committing crimes as they feel that the govt rules don't perceive the sensible issues of competitive within the economy system.

Lack of awareness:
one in all the most reason of white-collar crime is that the lack of awareness of individuals. the character of the crime is totally different from the normal crimes and folks seldom comprehend it tho' they're the worst victims of crime.

Greed is another motivation of the commission of crime. Some folks assume that others are violating the laws then it's outstanding if they're going to do constant.

Necessity is another issue of committing crimes. folks commit white collar crime s so as to satisfy their ego or support their family.

White-Collar crime in India

White collar crime is quickly increasing in India with the advancement of commerce and technology. The recent and speedy developments within the technology have given new dimensions to pc connected crimes referred to as cyber-crimes. because of it, the white-collar crime is increasing with the event of latest websites. The areas suffering from these crimes are banking and monetary establishments, industry, business etc.

Crime is associate act or omission that constitutes associate offence and is punishable beneath the law. The rise in White collar crime on day after day, injures the society on an outsized scale as a result of the laws don't seem to be properly administered and thus there's a desire to curb the factors that are serving to within the commission of such crimes.

Laws associated with White-Collar Crime

The government of India has introduced numerous regulative legislations, the breach of which can quantity to clerical criminalism. a number of these legislations are:
  • Essential Commodities Act 1955
  • The Industrial (Development and Regulation) Act, 1951
  • The Import and Exports (Control) Act, 1947
  • The Foreign Exchange (Regulation) Act, 1974
  • Companies Act, 1956
  • Prevention of Money Laundering Act, 2002
The Indian Penal code contains provisions to envision crimes like Bank Fraud, Insurance fraud, Mastercard fraud etc. just in case of money Laundering many steps are taken by the govt India to tackle this drawback. The banking concern of India has issued directions to be strictly followed by the banks beneath KYC (Know Your Customer) tips. The banks and monetary establishments are needed to take care of transactions for an amount of ten years.

How to tackle with the problem?

There are some measures to touch upon white collar crimes. A number of them are, making public awareness of crimes through media or press and different audio-visual aids and legal acquisition programmes. Special tribunals ought to be grooved with power to sentence the offenders for a minimum of five years and conviction ought to end in serious fines instead of arrest and detention of criminals. Unless the folks can powerfully hate such crimes, it's unattainable to manage this growing menace.

It is clear that because of the reason of advancement of science and technology newer sort of criminalism referred to as white collar crime has arisen. The term white-collar crime has not been outlined within the code. however, the size of white-collar crime is therefore wide that once analysing the provisions of Indian Penal code 1860, we tend to could conclude that bound offence beneath Indian Penal code is closely joined with white collar crime like graft, corruption and adulteration of food, forgery etc.

The provisions of Indian Penal code managing white collar crimes ought to be amended to boost social control significantly fine in tune with modified socio-economic conditions. The special Acts managing white collar crime and also the provisions of Indian penal code ought to be harmoniously taken to manage the matter of white-collar crimes.

Written By: Tusharika Singh Gaharvar, B.A.,LL.B, Semester-8 - Amity University, Lucknow

Law Article in India

Ask A Lawyers

You May Like

Legal Question & Answers

Lawyers in India - Search By City

Copyright Filing
Online Copyright Registration


How To File For Mutual Divorce In Delhi


How To File For Mutual Divorce In Delhi Mutual Consent Divorce is the Simplest Way to Obtain a D...

Increased Age For Girls Marriage


It is hoped that the Prohibition of Child Marriage (Amendment) Bill, 2021, which intends to inc...

Facade of Social Media


One may very easily get absorbed in the lives of others as one scrolls through a Facebook news ...

Section 482 CrPc - Quashing Of FIR: Guid...


The Inherent power under Section 482 in The Code Of Criminal Procedure, 1973 (37th Chapter of t...

The Uniform Civil Code (UCC) in India: A...


The Uniform Civil Code (UCC) is a concept that proposes the unification of personal laws across...

Role Of Artificial Intelligence In Legal...


Artificial intelligence (AI) is revolutionizing various sectors of the economy, and the legal i...

Lawyers Registration
Lawyers Membership - Get Clients Online

File caveat In Supreme Court Instantly