Abstract
White-collar crime and corruption have emerged as significant challenges to governance, economic stability, and the rule of law in India. These crimes, often committed by persons in positions of trust and authority, undermine public confidence in institutions and erode the ethical foundations of business and administration. This doctrinal study critically examines the legal frameworks governing white-collar crime and corruption in India, focusing on statutes such as the Prevention of Corruption Act, 1988, the Prevention of Money-Laundering Act, 2002, the Companies Act, 2013, and the Lokpal and Lokayuktas Act, 2013. Through an analytical examination of legislative provisions, judicial interpretations, and enforcement mechanisms, the study explores how Indian law conceptualizes and penalizes economic offences such as fraud, bribery, embezzlement, and abuse of official position. The research identifies doctrinal inconsistencies, overlapping jurisdictions, and procedural limitations that hinder effective enforcement and prosecution. It also evaluates the role of enforcement agencies such as the Central Bureau of Investigation (CBI), the Enforcement Directorate (ED), and the Serious Fraud Investigation Office (SFIO) in implementing these laws. By synthesizing statutory and case-law analysis, the study aims to highlight gaps in the existing legal system and propose reforms to strengthen accountability, enhance institutional coordination, and align Indian frameworks with international anti-corruption standards. Ultimately, the research contributes to a deeper understanding of how doctrinal coherence and policy reform can advance transparency, integrity, and good governance in India.
Introduction
Corruption and white-collar crime have become major problems in India’s legal and governance framework. These kinds of crimes, in contrast to traditional crimes, are characterized by financial manipulation, dishonesty, and abuse of trust by those in positions of influence, authority, or responsibility. Due to the complexity of financial transactions, growing digitalization, and India’s economy’s rapid growth, there are now more opportunities for sophisticated economic offenses. As a result, the frequency and seriousness of crimes like corporate fraud, insider trading, money laundering, embezzlement, bribery, and abuse of official position have increased.
Corruption undermines democratic governance, skews just decision-making, and erodes public trust in institutions. White-collar crime is closely linked to it. High-profile scandals like the Satyam Computer fraud, the 2G spectrum case, and the Punjab National Bank scam illustrate the extent of financial malfeasance that can occur when institutional and legal safeguards are insufficient. These cases highlight the severe structural and procedural shortcomings in India’s regulatory and enforcement frameworks.India has passed a number of laws to combat white-collar crime and corruption, including the Companies Act, the Prevention of Corruption Act, and the Prevention of Money-Laundering Act. However, the effectiveness of these laws primarily depends on institutional coordination, judicial interpretation, and doctrinal clarity. The complexity of multiple enforcement agencies and overlapping laws often hinders investigation and prosecution.
Investigating white-collar crime and corruption through a doctrinal legal approach is therefore essential. The foundation for examining existing legal frameworks, identifying gaps, assessing case law, and proposing modifications that might enhance India’s accountability, transparency, and rule of law is laid out in this introduction.