MULTI FACETED WHITE COLLAR CRIME EATING COUNTRY'S ECONOMIC FABRIC LIKE TERMITE

White collar crime is the term used to describe financially driven, nonviolent crimes committed by private or holder of public office in business and by government functionaries. Securities fraud, embezzlement, corporate fraud, cheating public at large and money laundering are a few examples of white collar crimes. A nation's legal system's primary goal is to provide justice to all of its residents without distinction. But it is true that prejudice exists in all legal systems. These are the systemic gaps that called for investigation. In our culture, a crime committed by someone of lower social strata is normally punished harshly by the law, but if the same crime is done by someone of high class status, the situation changes. In practice, it appears that the law—or perhaps I should say the system—is more forgiving of the perpetrator. New issues appeared in every industry as civilization expanded and evolved, and the criminal justice system was no exception. In this course, the concept of "white-collar crime" also emerged. The social scientist Edwin Sutherland, who was the main proponent of this social perspective of crime, is credited with creating this word. According to Edwin Sutherland, a specialist in criminology, white-collar crime is: "A crime committed by a person of respectability and high social status in the course of his occupation" (1949) It addresses criminal behavior by holder of public office, those in positions of authority, and even people connected to for-profit businesses. Since white-collar workers have easier access to chances for fraud, bribery, insider trading, embezzlement, cyber crime, and forgeries, white-collar crime intersects with corporate crime. White-collar crime has a big impact on a country's economic and financial stability