Author(s)
Pari Agarwal
- Manuscript ID: 140853
- Volume: 2
- Issue: 7
- Pages: 324–349
Subject Area: Other
Abstract
Economic offences are one of the most widespread and harmful types of white-collar crime in modern India. They seriously threaten the nation’s financial stability, institutional integrity, and public trust in government. Unlike traditional crimes that involve physical violence, economic offences are marked by complexity, deception, and the exploitation of weaknesses within systems by people in positions of power and trust. The Indian criminal justice system, which has mainly focused on traditional crime, struggles to effectively respond to the complex and changing nature of economic offences. This paper examines the framework of white-collar crime explained by Edwin H. Sutherland. It focuses on how economic offences manifest in the Indian social and legal context. The paper analyzes the current laws governing economic offences in India, including the Indian Penal Code of 1860, the Prevention of Money Laundering Act of 2002, the Fugitive Economic Offenders Act of 2018, the Companies Act of 2013, and other relevant statutes. It also evaluates the institutional mechanisms for investigating and prosecuting these offences, specifically referencing the Enforcement Directorate, the Central Bureau of Investigation, and the Serious Fraud Investigation Office. Using a detailed and analytical approach, the paper points out flaws in the current criminal law response. It highlights issues such as delayed prosecutions, insufficient sentencing, jurisdictional conflicts, and the lack of dedicated legislation for white-collar crimes in India. By consulting judicial decisions, law commission reports, and global practices, the paper wraps up with specific policy recommendations to strengthen India's criminal law response to economic offences and white-collar crime.