Corporate frauds and crimes have taken a new shape in the present information technology age. Data theft, privacy violations, intellectual property rights (IPRs) violation, trade secrets theft, financial frauds, etc have also increased in the corporate sector of India. Even white collar crimes and organised crimes have increased a lot.Clearly, IT and cyber frauds in Indian companies have increased a lot. These frauds have necessitated cyber due diligence for Indian companies. Further, these IT frauds and corporate cyber crimes have necessitated for their timely and proper investigation. Corporate laws of India must be suitable amended to address these issues in India.
There are multiple investigation agencies in India depending upon the nature of the wrong or crime. Corporate frauds and corporate cyber crimes can be prosecuted at the administrative level or in civil and criminal courts.
Investigation of corporate IT frauds and corporate cyber crimes is a complicated process that requires techno legal training and expertise. These offences require a good working knowledge of both technical and legal knowledge.
Cyber crime investigation methods in India are still maturing. There are very few cyber crime investigators in India that can investigate a cyber crime in techno legal manner. Cyber crime investigation training in India is urgently required so that more such investigators can be produced. With growing cases of corporate IT frauds and corporate cyber crimes, the demand for such cyber crime investigators in India is going to increase.
Perry4Law and Perry4Law Techno Legal Base (PTLB) are providing world renowned and exclusive techno legal trainings to various stakeholders. Some of the areas covered by PTLB are cyber due diligence training in India, cyber forensics trainings in India, cyber security training in India, corporate IT frauds prevention training in India, cyber crime investigation training in India, etc.
Recently, corporate frauds like Satyam fraud, Citibank fraud at Gurgaon, etc came to the light in India. More such frauds may be possible in near future. Realising the gravity of the situation, Indian government decided to further strengthen the powers of serious frauds investigation office (SFIO) of India. The proposed companies bill 2011 has also decided to grant a statutory recognition to SFIO so that corporate frauds can be effectively tackled. Further, corporate and banking laws in India are in the process of being strengthened.
This is a good decision. However, SFIO must develop techno legal expertise to effectively tackle the growing cases of corporate IT frauds and corporate cyber crimes in India. SFIO should immediately start developing techno legal capabilities so that we have a strong and effective authority that can not only deter corporate IT frauds but can also successfully prosecute and punish them. Perry4Law and PTLB would extend their techno legal expertise in this regard if requested by SFIO or any other law enforcement agency or other agency of Indian government.
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