Corporate Frauds: An Analysis

INTRODUCTION

White Collar Crimes are the type of crimes that are committed by respectable persons, holding enviable positions, either in public or private entities. It is practically very difficult for the bureaucratic agencies to track and detect such frauds and probably because such activities are carried out in much secrecy and goes un-notified. Such crimes are defined by the Federal Bureau of Investigation as, "Illegal acts characterized by deceit, concealment or violation of trust, which are not dependent upon the application or threat of physical force or violence". The FBI says that in cases of white collar crime, "Individuals and organizations commit these acts to obtain money, property or services; to avoid the payment or loss of money or services; or to secure personal or business advantage". Today, the focus of white collar crimes has moved from the individuals to the organization, where individuals alone or in collaboration with others commit criminal