White-collar crimes are crimes committed by a person of high social status and reputation in the course of their professional activity. It is a crime committed by employees or business people and usually involves some form of theft or financial fraud. The term “economic crime” was defined in 1939 by the sociologist Edwin Sutherland. These crimes are nonviolent crimes committed by business people through fraudulent activities that can be used to make large sums of money. White-collar crime includes embezzlement, tax evasion, money laundering, etc.
White-collar crime is committed by those engaged in otherwise lawful activities and encompasses a wide range of activities. Offenders fill respectable positions in communities unless their crime is exposed. Laws related to white-collar crime depend on the exact nature of the crime committed.
The common perception is that white-collar crime is committed because of greed or economic instability. But these crimes are also committed because of situational pressures or the inherent quality of getting more than others. However, there are several reasons for white-collar crime. Some perpetrators convince themselves that the acts they have committed are not crimes because the acts involved do not look like street crime. Some people justify themselves by committing crimes because they believe that government regulations fail to understand the practical problems of free enterprise competition. One of the main reasons for white-collar crime is lack of awareness among people. The nature of crime is different from traditional crimes and people rarely understand it, despite being the worst victims of crime. Greed is another motivator for committing the crime. Some people think that others are breaking the law too, so it’s okay for them to do the same.
White-collar crime in our country is increasing rapidly with the advancement of trade and technology. Recent technological developments have added a new dimension to computer crime, known as cybercrime. Therefore, economic crime increases with the development of new websites. The areas affected by these crimes are banks and financial institutions, industry, corporations, etc.
Crime is thus an act or omission that constitutes an administrative offense and is punishable by law. As the number of white-collar crimes increases daily, it damages society on a large scale because the law is not properly enforced and therefore it is necessary to limit the factors that contribute to the commission of such crimes.
It is clear that as a result of advances in science and technology, a new form of crime has emerged known as white-collar crime. The term “economic crime” is not defined in the Code. But the dimensions of white-collar crime are so great that after analyzing the provisions of the Indian Penal Code of 1860, we can conclude that some crimes under the Indian Penal Code are closely related to white-collar crimes such as bribery, corruption and falsification, etc. The provisions of the Indian Penal Code on white-collar crime should be amended to strengthen penalties, which are particularly tailored to changing socio-economic conditions. The special laws dealing with white-collar crime and the provisions of the Indian Penal Code should be interpreted harmoniously in order to control the problem of white-collar crime.
I have always been against Glorifying Over Work and therefore, in the year 2021, I have decided to launch this campaign “Balancing Life”and talk about this wrong practice, that we have been following since last few years. I will be talking to and interviewing around 1 lakh people in the coming 2021 and publish their interview regarding their opinion on glamourising Over Work.
If you are interested in participating in the same, do let me know.
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