Economic Offences Under The Bharatiya Nyaya Sanhita
- IJLLR Journal
- Nov 16
- 2 min read
Aditya Goswami, IILM University
Mr. Paras Yadav, Assistant Professor, IILM University
ABSTRACT
The Bharatiya Nyaya Sanhita, 2023 (BNS) transforms India in terms of criminal law, particularly the treatment of economic crime. The BNS replaces the colonial Indian Penal Code of 1860 and establishes a contemporary and holistic system to cope with such white-collar and financial crimes as forgery, counterfeiting, hawala transactions, and organised financial fraud. This paper conducts a historical study of the current state of India's framework of the illegal enforcement of the laws governing economic violations, specifically comparing the fragmented pre- BNS framework with the new uniform, technology-oriented manner in which the existing laws are conducted. It reviews crucial sections, such as Section 111, which defines “organized crime” as a distinct national crime with complex types of economic fraud, and Section 316, which redefines what constitutes a criminal breach of trust as extending to fiduciary abuse both publicly and privately. The study explores the extent to which BNS integrated modern features such as extraterritorial jurisdiction, digital evidence, electronic summons, and trials in absentia, which provide an insight into how India has responded to global financial crime. It illustrates how law has evolved from a system of reactive prosecution to a system of preventive deterrence by promoting mandatory minimum sentences and tougher fines alongside acknowledgment of cyber-enabled economic crime. The study also discusses treatment of nonviolent offenders: how community service, probation, and compensating victims can simultaneously serve the dual purpose of punishment and rehabilitation. The BNS enhances coordination with enforcement entities such as the ED, CBI, and SEBI through the unification of those key components of the IPC, PMLA, FEMA, and state law. The paper argues that the BNS is technologically driven, innovative, victim-centered, and the legal solution which is forward- thinking. It also helps India to combat financial crimes more complex in nature, while rendering the justice system more open, fair, and honest.
