Understanding Socio-Economic Offences: The Conceptual Framework

Written by: Chow Ananda Mungyak, 4^th Year Student, B.A.LL.B., School of Law, Lovely Professional University

Abstract

Socio-economic offences represent a unique category of crimes that undermine both economic stability and social trust. Unlike conventional offences, these crimes are driven by greed, deception, and systemic exploitation, targeting institutions and the public at large. This paper critically examines the conceptual framework of socio-economic offences with reference to statutory provisions under the Prevention of Money Laundering Act, 2002, the Companies Act, 2013, and the Prevention of Corruption Act, 1988, alongside recent amendments and enforcement trends. Drawing on doctrinal and empirical methods, it highlights the rise of cyber and banking frauds, landmark cases such as the PNB Fraud Case and the ICICI Bank-Videocon Case, and explores the broader economic and social consequences. The research argues for enhanced regulatory oversight, technology-driven compliance, and institutional reforms to ensure transparency and accountability.

Keywords: socio-economic offences, money laundering, corporate governance, financial fraud, cybercrime

Understanding Socio Economic Offences The Conceptual Framework.pdf

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Volume 1 | Issue 6