Impact Of White-Collar Crime In India

Dikshika Tripathi, LL.B., Amity University

ABSTRACT

White collar crime refers to non-violent offenses carried out by individuals or organizations in a professional or business setting. These crimes are characteristically committed by people in positions of power or trust, and engross in financial fraud or other unethical activities. Examples of white collar crimes in India include banking frauds, bribery, corruption, money laundering, insider trading, securities fraud, tax evasion, cybercrime, and embezzlement.

White collar crime is a rising problem in India, with a number of high-profile cases coming to light in recent years. The lack of enforcement of existing regulations, weak judicial systems, and complicated legal procedures often obstruct investigations and prosecutions. Regardless of various efforts by regulatory bodies and law enforcement agencies to combat white collar crime, it remains a significant challenge in India. In this article, we shall discuss various aspects of white-collar crimes, including but not limited to meaning, historical background, causes, types, risks involved, how these crimes impact various sectors of society, legislations that back prosecuting the offenders.

Keywords: White-collar, white-collar crime, financial motive, financial fraud, social status, crimes, blue-collar, non-violent.