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July 17, 2003

A recent survey by PricewaterhouseCoopers found that 24 per cent of Indian companies have experienced significant economic crimes over the last two years with product piracy and fraud being the most widespread.

Banks and public sector organisations too are victims of different kinds of frauds.

Some time ago, stock broker Ketan Parekh sent the Indian bourses into a tizzy, and the markets had hardly recovered from the securities scam triggerred off by Big Bull Harshad Mehta. Even before the dust settled on these scams, the Unit Trust of India and a host of co-operative banks found themselves in the eye of the storm.

Do you think financial or corporate crimes are on the rise in India? What would you say is the cause for these scams: lack of monitoring, corruption in high places, pure greed.? Tell us what you think.

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Number of User Comments: 10

Sub: financial frauds rising or not?

I say they are rising and we are aware of all those now only because of the media. The solution I found is each and ...

Posted by sreedharakurup

Sub: Financial Frauds

Well the topic is very vast and i can summarize it only by saying that in financial sector the formula of high risk & high ...

Posted by Qaiser Nazeer

Sub: No hopes

OF course the financial scams are proliferating. Given the current judicial process and system even I would be tempted. The MO is simple. Fashion a ...

Posted by kala

Sub: There is always a sponsor.

Take any platform. There are always godfathers from the political arena who sponsor the embezzlements. The higher the echelon in the hierarchy more voluminous the ...

Posted by chanakya

Sub: economic frauds...any solutions??

being a lawyer i think the first and foremost reason why we have this problem is that it is not sufficient to just have laws ...

Posted by ram.j


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