The Growing Problem of White Collar Crimes in India

The Growing Problem of White Collar Crimes in India â€Å"The practitioners of evil, the hoarders, the profiteers, the black marketers and speculators are the worst enemies of our society. They have to be dealt with sternly, however well placed important and influential they may be; if we acquiesce in wrongdoing, people will lose faith in us†- Dr Radhakrishnan Methodology The research methodology used for the present research article is traditional Doctrinal research method. As most of the information can be sought form the available literature. So the researcher has chosen doctrinal method as method of research for the present article and has used books, journals, research articles for†¦show more content†¦The term ‘crime is also contentious as many of the harmful activities of businesses or occupational groups are not subject to criminal law and punishment but to administrative or regulatory law and ‘penalties or ‘sanctions. Therefore, a region specific definition of White Collar Crime can be:-- â€Å"White Collar Crime is an illegal act or series of illegal act for achieving an illegal objective committed by any person by non-physically or non-violent means and by guile, to gain money or property wrongfully or to avoid payment of legal dues or retain money or property wrongfully as to obtain wrongful business of personal advantage.† White Collar Crimes Broad Categories This list is indicative of the broad categories of White Collar Crime prevalent in India and all over the world but cannot be considered comprehensive. Bank Fraud--To engage in an act or pattern of activity where the purpose is to defraud a bank of funds, Blackmail--A demand for money or other consideration under threat to do bodily harm, to injure property, to accuse of a crime, or to expose secrets, Bribery--When money, goods, services, information or anything else of value is offered with intent to influence the actions, opinions, or decisions of the taker, Cellular Phone Fraud--The unauthorized use, tampering, or manipulation of a cellular phone or service, Computer fraud--WhereShow MoreRelatedThe White Collar Crime And Economic Crimes2126 Words   |  9 PagesIn India, the Law Commission in its 29th Report pointed out more or less the same factors as responsible for the rise of economic crimes, particularly, the white collar crimes. 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