Financial Crimes and Punishment

When a thief or a dacoit steals from a person there is a law against it to protect the common man because it is recognized as a crime.

Similarly, if someone hurts any person or kills him whether by accident or intent .

Then, again, there are different punishments, depending upon the condition, because it is obviously recognized as a crime.

But if a person is defrauded by any other person, or a group of people or an organization, and because of which he becomes unstable mentally and commits suicide, or with an accident, because of his mental state, there can be no punishment for the perpetrators, because it is not recognized as a crime.

This was my stand all the way, and I have said so openly as my strong protest against mis selling.

An old person in his 70s being sold ulips with a premium going into lakhs of rupees every year is a similar crime beyond imagination and explanation.

When you walk into a bank to simply open the bank account or fix the deposit and you are persuaded to buy insurance policy that you do not need or investing into some plan which is not regulated or septic or you do not need any such plan is actually Financial Crime being committed The punishment of which has not been spelt out so far because it is not considered a crime.

All those smart people at the bank, wearing creased uniforms or coming into your homes having your coffee and consuming your precious time and nothing less than those the quiet or financial fraudsters who run Ponzi schemes.

Therefore, is not only your responsibility to protect yourself from any such plans , which is too good to be true, but also protect your family members relatives, and colleagues by at least warning them about such incident that happened before.

The financial system in India has streamlined a lot, even though the penalty for various demeanors have not yet been spelt out .

Any such scheme, which appears too good to be true most probably it is .

It is not only the schemes which we are commonly faced with, but also the financial fraud being done everywhere nowadays-are something that we need to be wary off .

You just need to be off guard once and the damage could be something that you cannot forget in the lifetime and might affect your mental health.

Therefore, do not be in a hurry when any such plan is offered to you, because any such plans are always accompanied with the feeling of urgency by the seller telling you that this offer might be over .

Not just monetary schemes, but selling of real estate,  loan against Gold, and many other things fall into this category of economic offense, which so far has not been defined properly in the country, and even if it gets defined unscrupulous elements will always find something new to keep their system lubricated .