Financial, cyber fraud within ambit of organised crime in proposed law

| | New Delhi
1 2 3 4 5
  • 0

Financial, cyber fraud within ambit of organised crime in proposed law

Friday, 17 November 2023 | Pioneer News Service | New Delhi

Major financial scams, ponzi schemes, cyber crimes, vehicle theft, land grabbing and contract killing will come under the ambit of organised crime in the proposed new criminal law, and if such offences result in the death of any person, the convict will be punishable with death or imprisonment for life.

The Parliamentary Standing Committee on Home Affairs headed by BJP MP Brijlal observed that the existing laws were inadequate to tackle many serious offences like organised kidnapping, land grabbing, contract killing, extortion as also many major financial scams and human trafficking, and lauded the proposed punishments as "very effective addition".

According to clause 9 of the Bharatiya Nyaya Sanhita (BNS), unlawful activity, including kidnapping, robbery, vehicle theft, extortion, land grabbing, contract killing, economic offences, cyber crimes having severe consequences, trafficking in people, drugs, illicit goods or services and weapons, human trafficking racket for prostitution or ransom by effort of groups of individuals acting in concert, singly or jointly, either as a member of an organised crime syndicate or on behalf of such syndicate, by use of violence, threat of violence, intimidation, coercion, corruption or related activities or other unlawful means to obtain direct or indirect, material benefit including a financial benefit, shall constitute organised crime.

It also explains that economic offences include criminal breach of trust; forgery, counterfeiting of currency and valuable securities, financial scams, running ponzi schemes, mass marketing fraud or multi-level marketing schemes with a view to defraud the people at large for obtaining monetary benefits or large scale organised betting in any form, offences of money laundering and hawala transactions.

In Section 120A of the Indian Penal Code, there is no explanation about organised crime.

Trending News

more

State Editions

NGT seeks details on compensation to kin of Narela fire victims

07 April 2025 | Pioneer News Service | Delhi

Foundation Day celebrations held

07 April 2025 | Pioneer News Service | Delhi

Sewer-cleaning machine trial held in GK area

07 April 2025 | Pioneer News Service | Delhi

Two held for threatening realty dealer with firearm

07 April 2025 | Pioneer News Service | Delhi

Assembly hold Mahavir Gatha

07 April 2025 | Pioneer News Service | Delhi

NGT seeks details on compensation to kin of Narela fire victims

07 April 2025 | Pioneer News Service | Delhi

Sunday Edition

A Traveller’s Diary Through Vibrant Vietnam

06 April 2025 | Rohit Kaul | Agenda

The unwanted becomes unforgettable

06 April 2025 | SAKSHI PRIYA | Agenda

Taste of Burmese celebrations in India

06 April 2025 | Abhi Singhal | Agenda

Cool, Creamy and Irresistible

06 April 2025 | Abhi Singhal | Agenda

Find Your Perfect Summer Cool-Down

06 April 2025 | SAKSHI PRIYA | Agenda

Hiking to the heights

06 April 2025 | Abhi Singhal | Agenda

A Traveller’s Diary Through Vibrant Vietnam

06 April 2025 | Rohit Kaul | Agenda

The unwanted becomes unforgettable

06 April 2025 | SAKSHI PRIYA | Agenda