White Collar Crimes in India, Assignments of Sociology

Download White Collar Crimes in India and more Assignments Sociology in PDF only on Docsity! White Collar Crimes Meaning of White Collar Crime This notion was laid down for the first time in the field of criminology by Prof. Edwin Sutherland in 1941. He defined white collar crime as “crime committed by persons of respectability and high social status in course of their occupation”. Examples of it include fraudulent advertisements, infringement of patents, publication of falsified balance sheet of business, passing of goods, concealment of defects in the commodity for sale etc. These white collar crimes by nature are such that the injury or the damage caused as a consequence of them is so widely diffused in the large body of citizens that their enormity as regards personage victim is almost trifling. Hartung defines a white-collar offense as a violation of law regulating business, which is committed for a firm by the firm or its agents in the conduct of its business.” Types of White Collar Crime in India Some Types of White Collar Crime in India are 1) Bank Fraud- Fraud is a crime committed with an intention to deceive and gain undue advantage. Bank Fraud is a fraud committed on the banks. It is committed by the fraudulent companies by making fake representations. It is also related to the manipulation of the negotiable instruments like cheque bouncing, securities, bank deposits etc. Bank fraud is concerned to the public at large because there is a relation of trust between the banks and the public. It is the most common type of white collar crime and also a corporate crime. It harms public as well as the government of the country. 2) Bribery: Bribery is also a very common type of white collar crime. By bribery we mean giving money or some goods to the person at a high position in return of a favour. In simple words bribery is when one man gives money to the other which is in authority. It is done for the purpose of insisting him to do something or to prevent him from doing something. It is the most common income of most of the public officials of our country. 3) Cybercrime: Cybercrime is the biggest cause leading to these type of crime in India. It is the latest problem prevailing in the cyber world. Cybercrime is the crime which is related to ‘computer networks’. With the rapid increase of advancement of technology there is also a rapid increase in the crime related to the technology. Cybercrime involves the persons who are expert in computer related technology. And it is committed against the victim directly or indirectly to cause a harm to his reputation or to harm in physical or mental way using internet, networks and other technological sources. Cybercrime threatens the nations as well as the person’s security and financial status. Cybercrime can cause huge financial loss to the country. Not only the financial loss but it can also threaten the privacy of a person. Disclosure of confidential information can create privacy problems. Also cybercrime against women is also rising. By the use of telecommunication networks, mobile phones cyber stalking, sending obscene messages and pictures by criminals to women is also increasing. Hacking, Child pornography, Copyright infringement, Cyber terrorism, Cyber stalking are some of common examples of cybercrime. 4) Money Laundering: Money laundering is a crime in which the criminals disguise the identity of the money. In this crime, criminals try to hide the original ownership of the money and the place where they obtained that money by illegal means. Laundering is done with the intention of making that money came from legal sources. In simple words money laundering means to show the illegitimate money as legal money. For instance, if a person obtain money from black marketing, trafficking of illegal goods the money will be considered ‘dirty’ and he cannot deposit into the banks as it may seem suspicious if he directly deposits money into the financial institutions because he had to create statements and records stating that where the money came from. Money laundering involves three steps  Firstly, the owner of the money obtains the money from some illegal means and deposit into the bank by some way.  Then through multiple transactions the transfer of money is being done.  Lastly, they return the money into banks to make it legitimate. 5) Tax Evasion: Tax evasion is committed with an intention to conceal one’s actual taxable income and one’s original position to the authorities. This concealment of income is done to reduce the tax liability in the eyes of government. In simple words it means to hide the money obtained from the illegal means in order to reduce one’s liability to pay tax and to show low income to the tax authorities. Tax evasion has a negative impact on the social values as it demoralized honest tax payers and they might also want to do tax evasion also it gives economy power in the hand of few undeserving people. 6) Identity Theft: Identity theft is one of the easiest type of crime these days. Due to advancement of technology it is very easy to access personal information of anyone. Identity theft is the crime in which the criminal access unauthorized information such as name, address, phone number etc. and use this information to gain money. In simple words identity theft is committed by using some other person identity to commit fraud or to gain money by illegal means. White Collar Crime in Different Professions: 1) In Medical and Health:  Making of false medical certificates by the doctors.  Fake and intended prolong the treatment in order to increases the bills.