International Journal For Multidisciplinary Research

E-ISSN: 2582-2160   •   Impact Factor: 9.24

A Widely Indexed Open Access Peer Reviewed Multidisciplinary Bi-monthly Scholarly International Journal

Call for Paper Volume 7, Issue 2 (March-April 2025) Submit your research before last 3 days of April to publish your research paper in the issue of March-April.
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Volume 7 Issue 2
March-April 2025

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Corporate Liability for White-Collar Crimes: A Critical Analysis

Author(s) Mr. Karthik Venugopal
Country India
Abstract White-collar crimes, characterized by deceit, fraud, and financial misconduct, pose significant challenges to corporate governance and economic stability. This paper critically examines the legal framework for holding corporations accountable for white-collar crimes in India, focusing on key statutes such as the Companies Act, 2013, the Prevention of Money Laundering Act (PMLA), 2002, and the Securities and Exchange Board of India (SEBI) Act, 1992. It highlights the challenges in prosecuting corporate misconduct, including legal and procedural hurdles, lack of awareness among stakeholders, and regulatory gaps. The study also explores the role of directors, officers, auditors, and regulatory authorities in preventing and detecting fraud, emphasizing the need for ethical leadership and robust corporate governance. Drawing on global best practices, such as the US Foreign Corrupt Practices Act (FCPA) and the UK Bribery Act, the paper proposes policy reforms, enhanced regulatory oversight, and technological solutions like AI and blockchain to strengthen corporate liability. Through case studies like the Satyam scandal, the PNB-Nirav Modi fraud, and the IL&FS collapse, the paper underscores the importance of a multi-pronged approach to deter corporate misconduct, promote transparency, and build a more accountable corporate ecosystem. This analysis provides valuable insights for policymakers, regulators, and corporate leaders seeking to combat white-collar crimes and foster ethical business practices.
Field Sociology > Administration / Law / Management
Published In Volume 7, Issue 2, March-April 2025
Published On 2025-04-03
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E-ISSN 2582-2160
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