Socio Economic Offences: Nature and Dimensions

The concept of socio economic offences given by the 47th LawCommission Report in India is very important and needed to bediscussed as in this report the salient features of these social andeconomic offences are discussed in a detailed manner. It couldtherefore, be submitted that socio-economic offences does not onlyextend the scope of the subject matter of white-collar crime, asconceived by Sutherland and as appreciated by others, but is also ofwider import. The growth in socioeconomic crime is traced to thematerialism and business competitiveness fostered byindustrialization, coupled with a decline in the influence of religiousethics that demand material accomplishments while emphasizinghonest and fair dealings with others. These factors influenced Indiaafter World War II, and India's criminal jurisprudence had limitedopportunity to shape itself to counter the growing tide ofsocioeconomic crime. Currently, there are elements of a newcriminal jurisprudence evidenced in legislation intended to regulateand control socioeconomic crime. This includes treatingsocioeconomic crimes as having strict liability, with curtailment orabandonment of the necessity to prove intent. Further, vicariouscriminal liability, which involves the liability of a principal for the acts of its agents, is being increasingly recognized. Sentencing forsocioeconomic crimes is also becoming more severe, includingmandatory minimum imprisonment, large fines, and the confiscationof goods and property. In addition to providing stronger deterrentelements for socioeconomic crime through more effective lawenforcement, prosecution, and sentencing, the stigma attached tosocioeconomic crime should be increased by raising the socialconsciousness against such crime through increased publicity aboutthe trials and convictions of those accused of such crimes. Types ofsocioeconomic crimes committed in India are described in thedifferent modules in this course.