White-collar crime: Losses from frauds rise 80% from last year, says survey

The survey pointed that 3,766 cases of fraud were detected in FY19, a 15 per cent spike from a year ago

Current Affairs News:Professional wrongdoing has crawled into all enterprises particularly budgetary, pharmaceutical, data innovation and assembling with rising cases of illegal tax avoidance, tax avoidance, theft, protections, charge card and protection cheats, as indicated by an ongoing study by Netrika Consulting and Indian National Bar Association. The overview pointed that 3,766 instances of extortion were identified in FY19, a 15 percent spike from a year back; misfortunes brought about because of cheats rose by 80 percent.

What are professional offenses?

• Non-rough criminal acts perpetrated by individuals from a higher social class, for example, wage robbery, tax evasion, copyright encroachment, among others

• 83% of respondents concur that salaried lawbreakers embrace a blend of gift, cybercrime and tax evasion

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