Anti Bribery and Corruption

THE EGYPTIAN DYNASTY

The Egyptian Dynasty is renowned for its pharaohs, pyramids, rich culture, and mystical gods. Yet, it was also marked by corruption—misappropriation of wealth by priests and officials, bribery of judges, and exploitation of common people. In the absence of currency or banking systems, pharaonic wealth—held in gold, grain, and commodities—became vulnerable to embezzlement by trusted advisors.
To counter this, pharaohs employed specially trained scribes to detect and prevent corruption. Notably, King Horemheb took significant steps to reform governance. He implemented laws to curb the abuse of power that had flourished under Akhenaten, restored administrative order, appointed judges, and empowered local religious authorities—bridging the divide between the ruling elite and the common people.

OUR PRACTICE

While “blue collar crimes” affect an individual and peace & harmony in the society, it does not materially affect the economy. However, “white collar crimes” directly and adversely affect the economy.

In modern society, Criminal Laws (Indian Penal Code 1860 soon to be replaced with Bharatiya Nyaya Sanhita, 2023, Code of Criminal Procedure, 1973 soon to be replaced with Bharatiya Nagarik Suraksha Sanhita, 2023), Police Act, Gaming Act, Narcotic Drugs and Psychotropic Substances Act and such other statutes, regulate “blue collar” crimes.

A good governance necessarily requires separate set of statutes to tackle “white collar” crime. India has, amongst other statutes, various laws that directly deal with (or chapters that deal with) abuse of power, bribery, corruption, fraud, money laundering. Prevention of Corruption Act, 1988, Prevention Of Money Laundering Act, 2002 were introduced to safeguard economic growth and stability in the country. Likewise, dedicated chapters of Companies Act (SFIO), Insolvency & Bankruptcy Code (fraudulent transactions, etc.), SEBI FUTP Regulations,

SEBI PIT Regulations and various chapters of other statutes (including, certain chapters of Income Tax Act, GST Act – dealing with evasion of tax) have been formulated and undergone constant updation.

Besides assisting and advising clients in relation to the Indian laws, our Firm works in association with trusted international consultants to provide a single point solution to clients looking at ensuring compliances of relevant anti-money laundering laws in the USA, the United Kingdom, Hong Kong, and such other jurisdictions.

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