G Vijaya Bala Kartheek, School of Law, Mahindra University
ABSTRACT
Financial crimes pose a significant threat to the stability and integrity of financial systems worldwide. This research paper aims to examine the nature, impact, and legal framework surrounding financial crimes with a particular focus on the Indian context. By utilizing the Indian Penal Code (IPC), this study explores various objectives including understanding the types of financial crimes, analyzing their consequences, and examining the role of the IPC in combating such offenses. Through a comprehensive analysis, this paper aims to provide insights into the challenges faced and suggest potential solutions to mitigate the occurrence of financial crimes in India. As the term suggests, financial crime refers to money-related crimes committed by an individual or a group of individuals against the state and its authorities. Financial crime is the manifestation of organized criminal acts with the intention of obtaining wealth by illegal means. The term "illegal" here includes the violation of any statutory or statutory law. There is no specific general definition of financial crime, so it would be correct to have a personal interpretation of what it means to include any conduct carried out with the intent of unlawful financial gain. It can be asserted that no crime can be attributed to having a positive impact on society. Similarly, financial crime has serious negative consequences on the national economy. It has a multifaceted impact on the country's economic growth and development. It undermines the country's stability and affects its international reputation.
