White Collar Crimes: Contemporary Issues And Challenges
Harshit Mangla, Damodaram Sanjivayya National Law University*.
Rampant increase in white collar crimes is a universal menace that affects the very ethos of the socio-economic order of our societies causing irretrievable damage to world economies. These nonviolent crimes are committed by persons of high social status for exorbitant illegitimate gains, usually committed over a span of time and often goes on unreported. Such offences are not isolated events but have many facets like money laundering, corporate frauds, cheating, forgery, falsification of accounts, corporate lobbying and corruption etc. This paper tries to find out the true meaning and extent of white-collar crimes. An insight is being given into the legislations enacted to prevent white collar crime in India. In the words of the hon'ble supreme court of India, “these cases are nothing but private gain at the cost of public that lead to economic disaster". Bonafide societal morale, transparency and strict enforcement compelling adherence to the laws is paramount to curb white collar crimes.