Foreign Investment and Fraud and White Collar Crimes

The term Fraud is considered as unfair or unlawful gain, or to deprive a victim of a legal right. Fraud itself can be a civil wrong and also a criminal wrong or it may cause no loss of money, property or legal right but still be an element of another civil or criminal wrong. The term White-Collar Crime is now synonymous with the full range of frauds committed by business and government professionals. These crimes are characterized by deceit, concealment, or violation of trust and are not dependent on the application or threat of physical force or violence. The motivation behind these crimes is financial—to obtain or avoid losing money, property, or services or to secure a personal or business advantage.

A bulk number of fraud & white collar crimes are noticeable in our society. Among them most common crimes are corruption, bribery, tax evasion, fraud against the government, anti-trust violations, bank fraud, bankruptcy fraud, counterfeiting, economic espionage, embezzlement, extortion, forgery, money laundering and many more. Transparency International, a German based NGO, has identified Bangladesh as the most corrupted country in the world for consecutive five years. People of upper socio-economic class are making huge amount of money by corruption, manipulation and abuse of power which has severe impact on national economy. Their crimes are insufficiently focused and most of the time undetected as well as remained beyond the domain of legal process. To maintain its economic growth and development, Bangladesh needs to reduce fraud white collar crimes and minimize the rate.

“The Lawyers & Jurists” has strong contentious capabilities, and has handled a number of insurance, fraud and international trade disputes.