WHITE COLLAR CRIME

“A crime committed by a person of respectability and high social status in the course of his occupation” – Edwin Sutherland

Not every crime involves a smoking gun. Some crimes are committed right under the victim’s nose without a single shot fired.

A white-collar crime is a non-violent crime that is committed by a person, typically for financial gain. It is committed by an individual or a group of individuals, usually with the intention to benefit himself/herself. The benefits can be in the form of monetary value or goods and services. The white-collar criminal can be an office worker, business manager, etc. Fraudulent advertisements, infringement of patents, publication of falsified balance sheet of business, passing of goods, concealment of defects in the commodity for sale, etc. are some examples of white collar crime.

Types of white collar crime in India

Fraud

A Fraud is deemed to be committed if any of the following elements is present:

• A false statement of material facts occurred.
• The defendant was aware that the statements made were false.
• The defendant meant to make the false statements.
• The victim relied on the statements to be true.
• The victim lost something as a result of the false statements.

Not every false statement of fact can be considered as a fraudulent act. The statement must be of such significance that the facts or facts alone were used by the victim to make an important decision.

Bribery

Bribery is the act of giving money, goods or other forms of reward to a recipient in exchange for an alteration of their behaviour to the benefit or interest of the giver.

Many types of payments can constitute bribes: tip, gift, discount, free food, free ad, free tip, free tickets, inflated sale of an object or property, donation, fundraiser, higher paying job, secret commission, promotion, etc.

Computer Fraud

Computer Fraud is an act using computers, the internet, internet devices, and internet services to defraud people, companies, or government agencies for money, revenue, or internet access. There are many methods to conduct these activities. Phishing, hacking, etc. are some common examples.

Credit Card Fraud

Credit card fraud is a common term used for theft and fraud committed using or involving a payment card, such as a credit or a debit card. The purpose is to obtain goods without paying or to obtain unauthorized from an account.

Educational Institution

Privately run educational institutions in this country are another field where white collar criminals work with freely. The governing bodies of these institutions manage to secure large sums by way of government grants by submitting fake details about their institutions.

The real solution to this problem can come from the people who are affected by it. If everyone in their business or company keeps an eye out for anything suspicious, that alone can deviate potential thieves. Most of us do not give much thought to the rising white collar crimes as these are the things that we read in newspapers. But this needs to be sorted before it gets out of control.

Sanchayeeta Das

Associate

The Indian Lawyer