A CRITICAL STUDY OF WHITE COLLOR CRIME IN INDIA

White collar crime was coined by Edwin H. Sutherland in 1940 to describe criminal acts
committed by people occupying a socially superior and economically better position in the
society and commit such acts in the line of their profession. The term has since come to mean
criminal acts committed by people holding respectable positions and using their profession for
illegal gains. The increasing problem of such offenses has resulted in the formation of laws in
India, which include the Prevention of Corruption Act of 1988, the Lokpal and Lokayuktas Act
of 2013, the Black Money Act of 2015, and the Fugitive Economic Offenders Act of 2018.
However, despite such legislation being enacted, the rate of occurrence of white-collar crimes
remains high. Some of the major issues include delays in procedures, coordination issues
among departments, political interference, and lack of infrastructure. In this context, this
research will discuss the development of white-collar crimes in India and the inadequacy of
current laws to deal with such crimes. It will further shed light on some organizational barriers
that must be addressed through more advanced methods. Moreover, it is also pointed out by
the research that the increasing intricacy of corporate arrangements, electronic payment
systems, and foreign transactions has made it tough for law enforcement authorities to detect
such crimes and bring them to justice. Using shell companies, foreign bank accounts, and other
financial schemes, criminals try to cover their tracks, which make it harder for the efficiency
of law enforcement authorities. the above research highlights the need for developing a culture
of ethics along with any legislation in this regard.