Paper Title :Economic Crimes in India

Author :Maghadhe Kumar, Himanshu Khajuria

Article Citation :Maghadhe Kumar ,Himanshu Khajuria , (2023 ) " Economic Crimes in India " , International Journal of Management and Applied Science (IJMAS) , pp. 5-6, Volume-9,Issue-6

Abstract : Economic crime is a form of crime that is committed with the aid of those who occupyexcessively popular positions in corporations or groups. In contrast to the image of an ordinary criminal, white-collar criminals, which include bankers, CEOs, politicians, and bosses, are frequently exceedingly knowledgeable and rich contributors to society. Economic crimes commonly involve using deception, fraud, or another illegal method to advantage economic or private gain. Because of the complex nature of these crimes, their ways are more difficult to detect and prosecute than conventional street crimes. This essay will discover economic crimes extensive, which include their nature, incidence, and the demanding situations they gift for law enforcement groups. Economic crime is a nonviolent crook act that is influenced utilizing financialgain and is generally devoted by way of people in positions of authority. Those crimes are completed by way of individuals who have gottenentry to the organization'sfinances or statistics, and whoare entrusted with theresponsibility of handling or regulating the enterprise’s activities. Economic crimes can take many forms, inclusiveof embezzlement, insider buying and selling, tax evasion, bank fraud, accounting fraud, securities fraud, and bribery. The results of economic crimes can be devastating, as they can cause the lack of jobs, homes, and life financial savings for innocent individuals.Economic crime is tons extra popular than the general nonprivate may think. According to the FBI, the overall loss from economic crimes is envisioned to be around $300 billion consistent with year. This estimate is possible to be understated because many economic crimes move unreported or undetected. Additionally, economic crime criminals usually have access to assets that permit them to cover their activities greater correctly than street criminals, making it even greater tough for regulation enforcement organizations to come across and resolve these crimes. One of the most important challenges in dealing with law enforcement when it comes to economic crimes is the truth that they regularly require special knowledge toinvestigate and prosecute. In contrast to street crimes, economic crimes require specialized expertise incomplex financial transactions, computer forensic analysis, and different technical abilities. Keywords - Economic Crime, Law Enforcement, Felony, Highbrows.

Type : Research paper

Published : Volume-9,Issue-6

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