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White Collar Crime: A Growing Menace In The Corporate World In India




Gayatri Pradhan, BA LLB (H), SOA National Institute of Law, Bharatpur, Bhubaneshwar, Odisha


ABSTRACT


India's economic stability and business integrity are seriously threatened by white collar crimes, which are frequently perpetrated by people in trusted positions inside organizations and institutions. White collar crimes are non- violent in contrast to typical crimes, yet can still seriously harm an organization's or stakeholder's finances and image. Incidents of corporate fraud, embezzlement, insider trading, money laundering, and tax evasion have drastically increased in tandem with the fast growth of India's business sector and growing globalization. Prominent incidents like the IL&FS failure, the Punjab National Bank fraud, and the Satyam scam highlight how weak India's corporate governance framework is.


This paper seeks to investigate the several types of white collar crimes that are common in Indian corporations, assess their root causes, and evaluate how well the current legal frameworks are working. Additionally, it emphasizes the function of law enforcement organizations such as the Securities and Exchange Board of India (SEBI), the Enforcement Directorate (ED), and the Serious Fraud Investigation Office (SFIO). In order to successfully tackle this expanding threat, this research highlights the necessity for fast legal reforms, corporate responsibility, and stronger regulatory procedures via case studies and a critical review of statutory and procedural inadequacies.


Keywords: Satyam scam, SEBI, corporate governance, economic offenses, PMLA, regulatory framework, India, white collar crime, corporate fraud, insider trading, money laundering.



Indian Journal of Law and Legal Research

Abbreviation: IJLLR

ISSN: 2582-8878

Website: www.ijllr.com

Accessibility: Open Access

License: Creative Commons 4.0

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Licensing: 

 

All research articles published in The Indian Journal of Law and Legal Research are fully open access. i.e. immediately freely available to read, download and share. Articles are published under the terms of a Creative Commons license which permits use, distribution and reproduction in any medium, provided the original work is properly cited.

 

Disclaimer:

The opinions expressed in this publication are those of the authors. They do not purport to reflect the opinions or views of the IJLLR or its members. The designations employed in this publication and the presentation of material therein do not imply the expression of any opinion whatsoever on the part of the IJLLR.

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