Chapter –VI

Conclusion and suggestions

The 6th Chapter is the last chapter of thesis which is devoted for conclusion
& suggestions.
Conclusion:-
From a detailed study of the law regarding “A study of white collar crimes-
need of an elaborate law to control it’s menace”, the following conclusions are
drawn.
6.1 The Idea of white collar crime:
The current idea of white collar crime has come about due to a commingling
of behaviours, variables, systems and theories. Unlike conventional crimes,
white collar crime can be committed by an individual, a corporation, an
occupation, or an organization. The criminal element of intent has become less
important as product liability and other corporate malfeasance have come to be
identified as white collar crime. A questionable clustering of behaviours has
resulted in an intermixing of simple deviations from societal norms, breaches
of civil law, and criminal violations, thus blurring the line between civil and
criminal law. For the purpose of this paper, it is necessary to limit the scope of
the term white collar crime. The genesis of the term is credited to Sociologist
Edwin Sutherland in 1939 and simply states that white collar crime is the abuse
of Power by an individual, situated in a high place, whereby virtue of that
position they are provided with opportunities for such abuse. This paper will
refer to crimes of professional occupations as a behaviour having been statutorily
defined as criminal, committed by an individual who has obtained a professional
occupational position where the trust inherent to that position facilitates the
commission of such crime. Professional will refer to occupational prestige
rather than career criminality. This paper will attempt to offer an explanation as
to why a professional practitioner may commit a criminal act facilitated by
occupation after living a life of relative conformity to societal norms. Means,
motive, and opportunity will be analyzed. Structural perspectives and learning
theories of deviance will be applied to distinguish conventional and white
collar crime.
6.2 Statutory and Legal Provisions regarding White Collar Crime:
i) There are adequate laws in India to fight with White collar crime, The
Prevention of corruption Act 1988, The Indian Penal Code 1860, The
1
 Criminal Procedure Code 1973, The Prevention Of Food Adulteration Act
1954, The Essential Commodities Act 1955, The Customs Act 1962,
The Income Tax Act 1962, The Foreign Exchange Management Act
1999,The Information Technology Act 2000,The Prevention of Money
Laundering Act 2002 and The Right to Information Act 2005. Apart from
these codified Laws our Supreme law that is The Constitution of India it
also consist the provision of Writ Jurisdiction as well as the CAG to
control the white collar crimes. Besides these there are certain
authorities at central level and state i. e CVC (central vigilance
commission), CPA (Committee on parliament account), CBI (central
bureau of investigation), ACBS (Anti- corruption bureau of state) and
The Lokayukta are unable to control the white collar crimes. White
collar crime in various Domains in India Legal system in India, in trade
& Industry, Financial Institutional fraud, Corruption in Government &
politics, Forgery, Violation of foreign exchange regulations & Import-
Export Act. Violation of tax Laws. etc.
White collar crimes in various professions in India Legal profession,
Engineering, Educational Institutions, Money laundering Techniques etc are
the professions which are the honourable professions but decreasing their
respect in society.
There are many cases to show such crimes in Business and profession
Harshad Mehta scam, Common Wealth Game scandal, 2G spectrum etc. White
collar crime is still one of the biggest impediments to extending the benefits of
developments and progress to the poorest of the poor. The Indian criminal
justice system is facing many problems and challenges in its fight against white
collar crimes. At present there is no law to deal with white collar crime in the
private sector, which has grown in leaps and bounds in last two decades, as
envisaged in the UNCAC offender takes advantage of the very strict
requirements of Indian courts to prove every point beyond doubt. The system
suffers from inherent delays; as results punishment is not swift, white collar
crime is considered a ‘high profit
–low risk’ activity by white collar criminals. Recoveries of asset, which are
proceeds of crime, remain a big challenge. Such assets are often held offshore
and getting them back is a Herculean task especially in the absence of desired

2
International co-operation.

3
 Thus the first hypothesis of research, The White collar crimes are
prevailing every where in our country not only in business but also in profession
and politics, and it is difficult to identify and punish such criminals under
present law.
6.3 The Socio- economic Impact:
As has been studied so far, white collar crimes are not consequences of
any drive of necessity. It is simply greed for multiplying wealth & to retain so
called meaningless status in the society by pursuing rivalry with the
competitors. These people indulging themselves in these activities are to be
considered to the leeches, sucking blood of the society & in turn creating grave
hindrances to the progress of the society. Since their acts rarely affect an
individual directly, these are often ignored of by a common mass & thereby no
single individual takes the pain of prosecuting against the offender, if any
individuals try for that the Government itself stops such person example Baba
Ramdev & now the Anna Hajare. But it must not be forgotten that these crimes
& criminals are slowly & steadily spreading their wings towards the society at
large & much wrong has already done by now. Therefore, there is an immense
need to curb it making no waste of time; otherwise it might totally paralyze &
ultimate ruin the society.
Thus White collar crimes cause direct harm to national wealth. Recently
2G Spectrum scam is biggest scam, economy of Nation is highly affected by
these crimes, due to this development of country stops and it cause great harm
to social development. Beside this common people are getting mental harassment
as well as their Fundamental and Human rights are violates. Here the second
hypothesis of research going to prove that the ‘White collar crimes directly attack
on National economy.
6.4 Inadequacy in Present Laws:
Individual directly, these are often ignored of by a common mass & thereby
no single individual takes the pain of prosecuting against the offender, if any
individuals try for that the Government itself stops such person example Baba
Ramdev & now the Anna Hajare. But it must not be forgotten that these crimes &
criminals are slowly & steadily spreading their wings towards the society at
large & much wrong has already done by now. Therefore, there is an immense
need to curb it making no waste of time; otherwise it might totally paralyze &
ultimate ruin the society.
4
 Therefore, to conclude, it can be inferred that whatever reasons of
justifications are there for the methods used for the control of white collar crimes,
the ambivalence of the social response to this sort is so related to wider social
factors which have both Objective & Subjective dimensions. As has been so
mentioned a more subjective source of ambivalence in the social response to
white collar crimes is the assumption that there is less public concern about
these behaviours so termed as white collar crimes, & therefore there is a less
support for severe sanctions than in the cases of crimes which are traditional street
crimes. But even if there was greater public ambivalence towards white collar
crimes in comparison to the traditional crimes, writers such as Bax has
regarded this as a further challenge to sensitize people to no seeing processes in
which they are victimized disasters or accidents.
Therefore, the motto should be always prevention is better than cure. Since
the acts involved defrauding public faith & belief, public as a whole mass
should come forward to protect the whole society from these greedy people
who are destroying the ethics and morality of the society slowly & slowly for
their sole aim of pursuing narrow self interest.
Suggestions:-
As it now stands, neither the law and the legal machinery nor the public
service administration able to control the white collar crime in fullest extent.
The biggest hindrance that lays in the prevention of white collar crimes
is the lack of public awareness. Since the individuals involved in these acts, do
not generally affect a signal individual, an urge of eradicating them do not
usher, Moreover, white collar crimes are yet not considered to be as grave as
that of traditional crimes, so to it’s certain characteristics as mentioned earlier.
Though they are likely to take shape of heinous crimes in times to come, yet
there lie certain obstacles in considering them at part with traditional crimes.
The acts coming under the purview of white collar crimes cannot be termed as
crimes in strict sense of term. Therefore apart from having the stringent penal or
regulatory law for deterring the persons involved in them, there is first & for
most need of raising public awareness regarding the issues. The
government has a comprehensive role to play in doing so through media or by
initiating task force who would acts as watch Dogs. Proper and methodological
action should be used randomly so as to catch the individuals involved in white
collar crimes red- handed. The white collar crimes directly attack on national
5
economy affecting

6
development of country which is necessary to be curbed and removed by adopting
proper legal system.
As has been studied so far, white collar crimes are not consequences of
any drive of necessity. It is simply greed for multiplying wealth and to retain so
called meaningless status in the society by pursuing rivalry with the
competitors. These people indulging themselves in these activities are to be
considered to the leeches, sucking blood of the society & turn creating grave
hindrances to the progress of the society. Since their acts rarely affect an
individual directly these are often ignored of by a common mass & thereby no
single individual takes the pain of prosecuting against the offender. But it must
not be forgotten that these crimes & criminals are slowly & steadily spreading
their wings towards the society at large & much wrong has already done by
now. Therefore, there is an immense need to curb it making no waste of time
otherwise it might totally paralyze & ultimate ruin the society.
Nothing in law to recover ill-gotten wealth. A white collar criminal due to
lack of evidence & legal technicality easily come out of jail & enjoy ill-gotten
money. Loss caused by white collar crimes directly cause great harm to
National Wealth which also abstract National progress to control this harm there
should be particular law to recovered all the amount from the white collar
criminals by seizure & search, the provisions prescribed under the united
nations convention against corruption. As well as there shall be deterrent
punishment.
Our Existing laws on white collar crimes are failing to control its
menace, as well as insufficient to fight with it & there is need of new
comprehensive law to control & punish the white collar criminals.
White Collar Criminals must be severely punished and the crime must
be treated crime against country and society. There shall be special tribunal for
speedy trial of white collar crime cases.
No politician or senior officer ever goes to jail despite huge evidence
because Anti-corruption Branch (ACB) and CBI directly come under
government. Before starting investigation or initiating prosecution in any case
they have to take permission from same bosses, against whom the case has to
be investigated. No corrupt officer is dismissed from the job because central
vigilance Commission, which is supposed to dismiss corrupt officers, is only
an advisory
7
body. Whenever it advice government to dismiss any senior corrupt officer its
advice is never implemented.
There is so much corruption within CBI and vigilance departments.
Their functioning is so secret that it encourages corruption within these agencies.
Weak and corrupt people are appointed as heads of anti-corruption agencies.
The only way to fight with white collar crime is to have plain clothes,
secret agents, male and female, old and young, going to public offices and
recording the bribe taking and arresting corrupt officials as they far a bribe.
And the most important, is to announce to the whole country, that this policy is
now in place.’’
In present legal system there is no specific law for white collar crimes.
In our legal system have various constitutional & legal provisions but still
white collar crimes are not controlled & even-growing day by day its menace
are great, common persons are suffering & criminals are moving free in our
society if there will be an elaborative specific law on white collar crime in India
which have the deterrent & harsh punishment minimum for 5 years
imprisonment & maximum life imprisonment with recovery of financial losses
by search & seizure. This crime shall be treated crime against nation and
punished severely then its menace can be controlled.
1. There is need of a Comprehensive law to curb all kinds of white collar
crimes as well as it shall contain the severer punishment for white collar
crime, after proof of guilt minimum five year imprisonment and maximum
punishment life imprisonment are to be imposed, in rarest of the rate
cases there shall be death penalty which is required to create deterrent
effect on society. Loses incurred by these crime shall be fulfilled from
accused by confiscation of his/her property and that property shall declared
as national wealth.
2. There shall be special court to deal with white collar crimes, and such
court shall be fast rack court. Cases must be decided with in six month
after investigation.
3. There shall be independent bodies Lokpal at centre and Lokayukta at
state level, they shall have power to initiate investigations and prosecution
against any officer or politician as well as private bodies without the
permission of any one. The investigation shall be completed with in short

8
term. (within six months )

9
4. The Lokpal and Lokayukta shall have complete powers to order
dismissal of corrupt officer. Even the judiciary shall also come under the
power of these bodies. They shall have power to take suo- moto action,
and the process of sanction to prosecute shall be deleted from the
Criminal procedure code and the Prevention Act.
5. Lokpal and Lokayukta shall have power to inquire into and hear every
complaint.
6. All investigation in Lokpal and Lokayukta shall be transparent. After
completion of investigation all case record shall open to public. Complain
against any staff of Lokpal and Lokayukta shall be inquired and
punishment announced within two months.
7. The appointment of Lokpal and Lokayukta shall be fully transparent and
no politician shall have full interference in selection of chairperson and
other members.
8. Lokpal and Lokayukta shall get public grievances resolved in time
bound manner, impose a penalty of per day of delay to be deducted from
the salary of guilty officer and awarded that amount as compensation to
the aggrieved citizen.
9. Declare all Indian wealth lying outside the country illegally, as national
wealth.
10. Our country shall accept UNCAC pending since 2006 as well as shall be
continue signatory in future for transparency and avoid corruption.
11. Method of tax evasion shall be specifically detected their monitor and
disrupts payment gateway servers enabling corrupt people to manage
money in tax-havens.
Scrutinize accounts of people having credit/debit cards of foreign banks
without any foreign work/ relation.
12. Disabling operations of any bank from tax haven country.
13. Withdrawal and demonetizing of Rs 500 and Rs 1000 currency notes so
as to avoid misuse of unaccounted money and quick arrest of the entire
locally circulated black money, bribing and fake note traffic.
14. White collar crimes shall be treated offence against nation, and it’s a
heinous crime.

10
15. At the personal level, it requires complete rejection & zero to tolerance
of white collar crime.
16. At the social level, the fight is rooted in an attitude that values ethical
conduct and is steeped in the culture & customs of citizens, government &
civil institutions.
17. At a pragmatic level, fighting white collar crime requires strategic approach
& perfect tools in the various spheres of social, economic & government
activities that ombine a good measures & surveillance with detection &
repression.
18. At the institutional level, there is a requirement for unfailing vigilance at
all times & on all fronts;
19. At the political level, there must be leadership as well as willingness to
adapt & to confront new challenges with determination.

11
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