Economic frauds and/or financial frauds occurs usually when someone deprives you of your monetary resources or injures your financial health through deceptively misleading or illegal procedures. This can be achieved through various ways such as Investment Frauds or Identity thefts. The fraudulent methodology of using someone else’s name and personal details to put the public in deception and gain financial advantage out of them amounts to Identity Theft (Tony Enterprises Vs. Reserve Bank Of India, Writ Petition (Criminal) No. 28823 of 2017). Most of the victim compensation programs operating in India cause unnecessary delays in the disposition of cases and do not aim to recover the money that is lost to any fraudulent scheme. The criminal defenses to the alleged accused person are quite few in number and the entire criminal case relies upon the books of accounts and the financial records respectively. These books of accounts and the financial records are the direct and primary evidences n the criminal case concerning economic frauds and/or financial frauds and the entire criminal prosecution and criminal defense is based upon the same. The financial records which are the primary evidences are enumerated herein below
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