Material Content for JAIIB-Legal & Regulatory Aspects of Banking Additional Reading

JAIIB-Legal & Regulatory Aspects of Banking Additional Reading

Cyber Laws in India

Objectives: This chapter presents the meaning and definition of cyber crime, the legislation in Indiadealing with offences relating to the use of or concerned with the abuse of computers or other electronicgadgets. The Information Technology Act 2000 and the I.T. Amendment Act 2008 have been dealtwith in detail and other legislations dealing with electronic offences have been discussed in brief.

Introduction:Crime is both a social and economic phenomenon. It is as old as human society. Many ancientbooks right from pre-historic days, and mythological stories have spoken about crimescommitted by individuals be it against another individual like ordinary theft and burglary oragainst the nation like spying, treason etc. Kautilya’s Arthashastra written around 350 BC,considered to be an authentic administrative treatise in India, discusses the various crimes,security initiatives to be taken by the rulers, possible crimes in a state etc. and also advocatespunishment for the list of some stipulated offences. Different kinds of punishments have beenprescribed for listed offences and the concept of restoration of loss to the victims has also beendiscussed in it.

Crime in any form adversely affects all the members of the society. In developing economies, cybercrime has increased at rapid strides, due to the rapid diffusion of the Internet and the digitisation ofeconomic activities. Thanks to the huge penetration of technology in almost all walks of society rightfrom corporate governance and state administration, up to the lowest level of petty shop keeperscomputerizing their billing system, we find computers and other electronic devices pervading thehuman life. The penetration is so deep that man cannot spend a day without computers or a mobile.Snatching some one’s mobile will tantamount to dumping one in solitary confinement!

Cyber Crime is not defined in Information Technology Act 2000 nor in the I.T. Amendment Act 2008nor in any other legislation in India. In fact, it cannot be too. Offence or crime has been dealt withelaborately listing various acts and the punishments for each, under the Indian Penal Code, 1860 andquite a few other legislations too. Hence, to define cyber crime, we can say, it is just a combination ofcrime and computer. To put it in simple terms ‘any offence or crime in which a computer is used is acyber crime’. Interestingly even a petty offence like stealing or pick-pocket can be brought within thebroader purview of cyber crime if the basic data or aid to such an offence is a computer or aninformation stored in a computer used (or misused) by the fraudster. The I.T. Act defines a computer,computer network, data, information and all other necessary ingredients that form part of a cyber crime,about which we will now be discussing in detail.In a cyber crime, computer or the data itself the target or the object of offence or a tool in committingsome other offence, providing the necessary inputs for that offence. All such acts of crime will comeunder the broader definition of cyber crime.

 

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