Financial Fraud and Crime Discussion Make citizens aware of financial crimes and fraud
The economy of India is growing rapidly. India is getting established as a big market all over the world. Rapid population and urbanization have increased the needs of the people, while frauds in transactions, construction, and other economic sectors have increased manifold.
Crimes related to fraud, usury related to cooperative institutions, companies, chit fund companies, banks, non-banking financial institutions, non-government organizations, etc. are increasing, in which the middle and poor section is most affected which is most troubled by chit funds and moneylenders.
Financial fraud is an offense under Indian law, for which there is a provision of both punishment and a fine. The Indian Parliament has enacted the Prevention of Money Laundering Act, 2002 to prevent financial crimes and take action against financial offenders.
Under this act, there is a provision of harsh punishment from three years to seven years for the person committing the financial crime. Apart from this, a fine can be imposed on the accused and his property can also be confiscated along with the attachment.
Like other states, in Madhya Pradesh too, ‘Financial Crime, Co-operative Fraud, Police Headquarters Bhopal’ is alert to prevent financial fraud and provide justice to the victims.
Helps citizens suffering from any financial crime and fraud to get justice by getting the guilty punished. If you are also facing such financial fraud then you can complain to the department.
Along with the department, it is our responsibility as a citizen to keep ourselves alert to such financial frauds. Do share with us if you have any suggestions to prevent this type of financial fraud. Your thoughts are important to us.
For any such problem, you can contact the department: 0755-2443022