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.