MONETARY OFFENCES

DANGEROUS SECURITIES MARKET

Naiti Kansara (3)Anushka Debnath (14)Aayush Mehta (25)Manan Parekh (36)Urvashi Baldia (47)Sejal Chhajed (59)

CONTENTS

1 . Exactly what are economic offences?

2 . Types of offences, legislation, adjustment authorities

3. A few scams

* Telgi Scam

5. 2G Fraud

* Demat Scam

* Harshad Mehta Scam

4. Acknowledgements

your five. Bibliography

EXACTLY WHAT ARE ECONOMIC OFFENCES?

Economic offences form another category of criminal activity under Lawbreaker offences. They are often mistaken for White/Blue Collar crimes. Generally people belonging to upper financial classes are discovered involved in this sort of crimes with the help of some unscrupulous and tainted Government functionaries and modern technology. Not only individuals get made their victim with pecuniary loss in Economic Accidents but this sort of offences often , damage the national economy also and still have security implications. The offences of Smuggling of Narcotic substances, Faking of foreign currency and important securities, Financial Scams, Frauds, Money Washing and Hawala transactions etc . evoke significant concern about their impact on the National Security.

ECONOMIC ACCIDENTS & LEGAL GUIDELINES

SR. NO| ECONOMICAL OFFENCE| ACTS/LEGISLATION| ENFORCEMENT AUTHORITIES| 1 . | Tax Evasion| Income Tax Act| Central Panel of Direct Taxes| 2 . | Illicit Trafficking in contraband products (smuggling)| Persuits Act 62 COFEPOSA, 1974| Collectors of Customs| several. | Forestalling of Bar Duty| Central Excise and Salt Take action, 1944| Lovers of Central Excise| 5. | Ethnical Object's Theft| Antiquity and Art Gifts Act, 1972| Police/CBI| 5. | Money Laundering| Foreign Exchange Regulations Take action, 1973; Funds Laundering Take action, 2002| Directorate of Enforcement| 6. | Foreign contribution manipulations| International Contribution (Regulation) Act, 1976| Police/CBI| several. | Area Hijacking/Real House Frauds| IPC| Police/CBI| eight. | Trade in Body parts| Hair transplant of Human Organs Work, 1994| Police/CBI| 9. | Illicit Medicine Trafficking| Narcotic Drugs and Psychotropic Substances Act 1985 & NDPS Act, 1988| NCB/Police/CBI| twelve. | Deceptive Bankruptcy| Bank Regulation Act, 1949| CBI| 11. | Corruption and Bribery of Public Servants| | State/Anti Corruption Bureau/ Vigilance Bureau/CBI| 12. | Bank Frauds| IPC| Police/CBI

13. | Insurance Frauds| IPC| Police/CBI

14. | Racketeering in Employment| IPC| Police/CBI

15. | Illegal Foreign Trade| Importance & Foreign trade (Control) Action, 1947| Directorate General of Foreign Trade/CBI| 16. | Racketeering in false Travel Documents| Passport Act, 1920/IPC| Police/CBI| 18. | Credit Cards Fraud| IPC| Police/CBI

18. | Terrorist Activities| IPC & related Acts| Police/CBI| nineteen. | Illicit Trafficking in Arms| Arms Act, 1959| Police/CBI| twenty. | Dubious Trafficking in Explosives| Explosives Act, 1884 & Mind blowing Substance Action, 1908| Police/CBI| 21. | Theft of Intellectual Property| Copy Correct Act, 1957 (Amendments 1984 & 1994)| Police/CBI| twenty two. | Computer Crime/Software piracy/Cyber Law| Copy Right Action, 1957/I. To. Act, 2000| Police/CBI| 3. | Stock Market Manipulations| IPC| Police/CBI

24. | Company Frauds (Contraband)| Companies Work, 1956/IPC MRTP Act, 1968 | Police/CBI

A FEW SCAMS

2. TELGI FRAUD

ABDUL KARIM TELGI was the mastermind of just one of the biggest ever scams the country features witnessed in recent history. About January 17, 2006, almost 11 years after the first case against Telgi was registered, exceptional Central Bureau of Investigation (CBI) Assess U. S i9000. Salvi noticable the scamster guilty upon seven counts: criminal conspiracy, counterfeiting govt stamps and cheating, amongst others. He sentenced Telgi to 10 years of rigorous imprisonment (RI) and imposed a fine of Rs. 1 . 4 lakhs. Two associates of Telgi,...

Bibliography: 3. | Evasion of Excise Duty | Central Bar and Salt Act, 1944 | Collectors of Central Bar

4

your five. | Funds Laundering | Foreign currency Regulations Work, 1973; Cash Laundering Action, 2002 | Directorate of Enforcement

6

being unfaithful. | Illicit Drug Trafficking | Narcotic Prescription drugs and Psychotropic Substances Act 1985 & NDPS Take action, 1988 | NCB/Police/CBI

10

twenty-one. | Fraud of Intellectual Property | Backup Right Action, 1957 (Amendments 1984 & 1994) | Police/CBI

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