Understanding White Collar Crime.

Necessity is always the main reason behind commission of a crime. But it is not so in every case.

What is White Collar Crime?

When a person of high status and respectability commits crime to fulfill his personal or economic gains is known as White Collar Crime. Such crimes takes place not because of need but greed.

Nature of White Collar Crimes and Criminals

As compared to other crimes for financial gains like robberies, theft, burglaries etc., white collar crimes causes great amount of financial loss. Such crimes can can destroy a company, families by taking away their life savings or cost investors a thick sum of money. White Collar Crimes have been taking place in a large scale for the last few years and are often seen to be committed in famous organizations.

White Collar Crimes are difficult to detect in the initial times because the criminals belonging to the reputable groups of the society does the evil activities quite tactfully with proper planning and execution. Although such crimes does not apply violence or physical force yet it deceives people and shatter their life long hardwork in one go.

A very famous example of White Collar Crime that could be cited is that of the fraud case of Nirav Modi. The Nirav Modi scam created a wave of chaos in the country when the Punjab National Bank (PNB), one of the largest public sector lenders found itself amidst Rs 11,400 crore transaction fraud in Feb 2018. Having received complaints against Nirav Modi by PNB, the CBI started investigating the case. Meanwhile, Modi left the country avoiding arrest.

White Collar Crimes in certain professions

Medical professional : A great amount of white collar crimes can be seen in the medical professional which includes issuance of fake medical certificates, selling of unlicenced drugs, intended prolonged treatments to increase bills, sex determination of unborn child in the womb and such other similar activities.

Engineering profession : In the Engineering profession as well, maintenance of false records of work – charged labours, construction of roads, bridges etc with below standard materials, unethical dealings with contractor and suppliers can be seen.

Legal profession : In the legal profession, violating the expected standards of the legal profession to earn monetary gains, framing false evidences to punish the innocent etc is very common.

Educational institutions : Submission of fake details about an institution to enjoy financial aids from the government, asking for huge sum of money as donation comes under the category of white collar crimes.

The intensity or effect of white collar crimes are not felt immediately or maybe directly to an extent, yet it greatly hamper the economy of the country in the long run.

How to combat White Collar Crimes?

Controlling White Collar Crime is no less than a challenge for the authorities because the criminals belong to the most powerful groups of the society.

Public awareness should be created on a large scale about these crimes through media platforms and other audio-visual aids.

Strict regulatory rules, improvement of criminal law, unbiased and impartial prosecution of the accused should be done along with drastic punishment for such criminals should be made compulsory.

If White Collar Crimes keeps on taking place in the society, very soon the society would faces its worst consequences. We, as responsible citizens of the country should always be alert and raise our voice if we come across any cases of such crimes in our surroundings.