White Collar Crimes

White Collar Crime

 White-collar crime refers to financially motivated nonviolent crime committed by

business and government professionals.

 Typical white-collar crimes include fraud, bribery, insider trading, labor

racketeering, embezzlement, cybercrime, copyright infringement, money
laundering, identity theft, forgery.
 Features of White Collar Crimes

 Victims often suffer the effect of white collar crime without even meeting the perpetrator.
 It is in essence of indirect form of theft, it is victimless in relation with physical damage.
 Offenders are at work at the scene while victims are present and unaware of offending.
 Types of White Collar Crime

 Bank Fraud:
To engage in an act or pattern of activity where the purpose is to defraud a bank of funds.
 Blackmail:
A demand for money or other consideration under threat to do bodily harm, to injure
property, to accuse of a crime, or to expose secrets.
 Bribery:
When money, goods, services, information or anything else of value is offered with intent
to influence the actions, opinions, or decisions of the taker. You may be charged with bribery
whether you offer the bribe or accept it.
 Embezzlement:
When a person who has been entrusted with money or property appropriates it for his or her
own use and benefit.
 Types of White Collar Crimes

 Environmental Schemes:
The overbilling and fraudulent practices exercised by corporations which purport to
clean up the environment
 Health Care Fraud:
Where an unlicensed health care provider provides services under the guise of being
licensed and obtains monetary benefit for the service.
 Insider Trading:
When a person uses inside, confidential, or advance information to trade in shares of
publicly held corporations.
 Investment Schemes:
Where an unsuspecting victim is contacted by the actor who promises to provide a large return on a small investment
 Dangers of White Collar Crime

 Billions of dollars lost at the expense of tax payers

 Ignored safety regulations for employees
 Unsafe products on market
 Polluted air and waters
 Above the law attitudes
 Excessive greed
 White Collar Crimes In Different Profession

 Medical Profession:

White collar crimes which are commonly committed by persons belonging to

medical profession include issuance of false medical certificates, helping illegal
abortions, secret service to dacoits by giving expert opinion leading to their acquittal
and selling sample-drug and medicines to patients or chemists in India, dilatory
tactics adopted by the members of this profession in treatment with a view to
extracting huge sum from them.
 White Collar Crimes In Different Profession

 Engineering Works:

In the engineering profession underhand dealing with contractors and suppliers,

passing of sub-standard works and materials and maintenance of bogus records of
work-charged labour are some of the common examples of white collar crime.
 White Collar Crimes In Different Profession

 Legal Profession: 

The instances of fabricating false evidence, engaging professional witness,

violating ethical standards of legal profession and dilatory tactics in collusion with
the ministerial staff of the courts are some of the common practices which are, truly
speaking, the white collar crimes quite often practiced by the legal practitioners.
 Causes of White Collar Crime

Bad general public mentality

 Ruthlessness in making money has became an important part of the business code.
 A person who reports his personal property honestly is regarded as a abnormal person.
 This shows that the general public mentality has accepted a particular common level of
dishonesty.
 Popular feeling incline to the belief that a lawyer cannot be successful if completely
honest and therefore most of them accept.
 Pick pocket is beaten to death but business man commits crime with immunity.
 Causes of White Collar Crime

Opportunity
 Unemployment plays hardly any role in the case of white collar crime.
 The white collar crime is a challenge to the concept that absence of employment is helpful to crime
and presence of employment is useful to non crime.
 White collar crime are closely related to opportunity.
 An unemployed person cannot commit this crime.
 You cannot commit a computer fraud unless you have access to computer.
 You cannot evade tax unless you have a taxable income.
 You cannot indulge in insider trading unless you have access to secrete information
 You cannot indulge in bank embezzlement unless you work for the bank.
 Causes of White Collar Crime

The other Causes are:

 It is very difficult to detect as white collar crimes always committed in privacy of an
office or home and usually there is no eyewitness.
 The economic growth and industrial progress
 White collar criminals are tactful, intelligent and stable under the cover of high social
status.
 Remedies for white collar crime

 Creating public awareness through the media and press and other audio visual aids.
 Special tribunal should be constituted with power to award a serious sentence.
 Stringent regulatory laws and drastic punishment for white collar criminals, may help in
reducing these crime.
 Separate chapter should be inserted in the Indian Penal Code, 1860 relating to white collar
crime.
 Conclusion

The real solution to this problem is going to have to come from the people who are being
affected by it. They are the most likely to stop it. They cannot let anyone take advantage of
them anymore.