White Collar Corruption - 1000x of petty corruption
A lot of white collar crimes take place without our paying much attention, especially the role of auditors in glossing over financial irregularities.
See how SR Batliboi an affiliate of Ernst & Young was barred by RBI and yesterday sacked by HDFC.
There is a lot of such white collar corruption happening which is leading to corrupt loans, manipulation of accounting results and earnings per share, misleading public investing in shares.
This group should become more active and bring such stuff to light. Its our duty towards India. more
May I have your Phone number to contact and discuss? Regards,Shah D J On Friday, 7 June, 2019, 11:20:57 pm GMT-5, Dipak Shah wrote: see more White collar Fraudsters in my reply On Friday, 7 June, 2019, 09:19:28 pm GMT-5, Rohit Jain wrote: more
Most of the Auditors are authors for corrupt practices. Auditors, Lawyers, Doctors, Engineers, administrative Offices are players in the field. It is difficult to tame them. more
Yes, i am fully agree with increasing white collar crimes in India. white collar crimes are letter on converted to corruption and black money generation. more
We can not wait for someone at the top or bottom or somewhere inbetween to start saying NO to corruption. As a matter of fact, the corruption has been for so long in our system that some of the practices have been accepted as standards. For example, when a FMCG company announces that for every Pack of Detergent we buy, they will give Rs.1.00 Towards the education of Kids. Now, 1. Who checks that the company has not raised prices by Rs.2 to accomodate this? 2. MRP itself. Who decides MRP? Do we consider manufacturing costs and add 7% as operational costs and say this is your MRP? I think NOT. The company says this is my MRP and we buy...Funny. 3. Who audits the sales of that particular Brand & ensure that the company had not announced this to dispose off it's dead or sub-standard stocks? 4. Does our Government have a department to check if the company has Sold "X" units and has given away Rs."X" to an organisation who also needs to disclose the use of funds so raised from the unsuspecting consumers? We are so far away from having accountability and transparancy in practices. If something has to be done, It's us that will have to do it. Cant wait for Not so Bright Government Bulbs to enlighten us. more
Dear Rohit and responders, We all kniw what is wrong with us: One doesn't waste time when one of us attain a position of profit, in a corrupt system, usually through semi-corrupt means. It is the job of superiors to weed out such persons exemplarily inorderto discourage malpractices in his office which is his responsibility. But what happens is that the superior settles for a cut from the take! This practice is a culture which spreads all the way up, up to the honourable minister of the departmemt. That is where the corruption actually originates! That should have been the place where efforts weed it out should have started in the first place. Unfortunately our system of selecting our ministersis flawed. You may disagree since no better method is in sight. That is part of our problem.. CKP Nair. 9-6-'19 more