A New Dimension of Socio-Economic Offences: E-Money Laundering
Posted: 7 Jul 2010
Date Written: July 7, 2010
The new millennium era has provided a fertile platform for the very inception of a modish and independent field of study. Socioeconomics has emerged as a separate field of study in the late twentieth century. If we probe into the enigma of socio economic offences the root cause lies in the lust for money. These crimes are always committed by educated, highly qualified and socially reputed people. The prominent hall mark in socio-economic crimes are that these offenders pretend this illegitimated earned money as a legitimate money. In the lap of globalisation and advancement a new paradox has come in sight. It is conglomerate challenge before our law. On one hand we have set our foot in the world of competition, Information technology, Cyberspace and e-world (electronic world), however, on the other hand the rate of socio-economic crimes have been increasing and degrading the quality of life day by day and, therefore, increasing gap between classes of people. While law could never have been divorced from other disciplines, the technology-law interface has surely freed jurisprudence from the clutches of solitude. Technological advancement has necessitated that legal system adopting to change and embrace technical phenomenon, so that order, harmony and peace are preserved in the e-world. It has been observed that the banking industry has become a haven for the growth of this new stream of e-crime. A new dimension of offences has taken birth in the lap of cyber-world, Electronic crime (e-crime), or Computer crime In this research paper I have highlighted a new dimension of socio-economic offence: that is Electronic Money Laundering.
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