Arya Krishnakumar & Sreeparvathy K Shaji
9th Semester Students of Law, School of Legal Studies, CUSAT
White-collar crime is now common in almost all occupations and professions in our country. Reportedly coined in 1939, the term white-collar crime is now synonymous with the full range of frauds committed by business and government professionals. These crimes are non-violent crimes committed by people through false activities who are able to access huge sum of money for attaining high financial gain. As a sub-category of white-collar crime, corporate crime has been defined by many eminent personalities all around the globe. The punitive model of corporate crime control has support from both sides of ideological spectrum. The reason behind this confluence, however, differs from side to side. The criminal justice system is now playing a larger role in eliminating the corporate crime from our country. Champions of this position claim that criminal process offers a greater deterrent for corporations and mangers than other control mechanisms. Our paper would like to throw light in the minds of the reader by raising the following questions;
- What are the impacts, the corporate crime has caused in our country?
- How the criminal law is useful in controlling the corporate misconduct in our country?
- What are the steps taken by the government in wiping out the brain behind the corporate crimes?
The goal of this paper is to address, in detail, the concept of white-collar crime and corporate crime, its impact on our society, how it can be controlled and eradicated.
Keywords: White-collar crime, Criminal law, Corporate crimes, Corporate misconduct