When people were living in an uncivilized society there were no cases of criminal justice and the sole solution to every crime could be identified by the phrase "An eye for another eye" or "A life against another life". However, in today's growing crime era, Indian Penal Code (IPC), 1860, deals with matters related to white-collar crime. IPC seems to be the oldest and initial framework whereby provisions related to white-collar crimes were prescribed. IPC governs the provisions related to white-collar crimes and strict punishment and punitive actions are provided therein (Gorasiya and Chudasama, 2021). As society as a whole is developing and growing, the number of crimes is also increasing on a rapid scale. Since the introduction of technological advancement and science revolution, the idea of white-collar crime has gained popularity amongst criminals or individuals intending to do the crime. Such crimes are committed by reputed and known people during the course of their profession or occupation and such people hold a respectable and high-class social status in the community. Though there exist numerous categories of white-collar crime, the most common ones which will be discussed in detail in the given report are frauds involving banks, counterfeiting-related issues, bribery, and most commonly Information Technology (IT) based cybercrime.
The term white collar crime derives from a generalized saying that states that corporate professionals and business executives carry formal suits with white shirts accompanied by ties. The initial complete and defined criminal statutes in the country include the Indian Penal Code (IPC). It additionally addresses a number of white-collar violations, and penalties can be imposed for money laundering, dishonesty, forging paperwork, stealing money and administration tags, violating weights and evaluate laws, adulterating medicines and food, stealing from the general population, unlawful violation of confidence, and misappropriating assets belonging to the public. Additionally, it psychologically isolates such offenses as well as their perpetrators from other kinds of wrongdoing, which are allegedly more probable to have been perpetrated by "blue collar" employees.