White Collar Crime

In a looking glass of a sociologist, we can see white collar crime in our everyday world. When it presents itself; the victims are left hurt and the rest in awe of their awful actions. White Collar Crime is defined as “White collar crime overlaps with corporate crime because the opportunity for fraud, bribery, insider trading, embezzlement, computer crime, and forgery is more available to white-collar employees.” stated by James Henslin. White Collar Crime can be seen in the Libor Scandal, as a prime example.

Secondly, these individuals or organizations truly believe they will accomplish their illicit act(s) and not get caught. Finally, all too often, individuals or people belong to organizations committing white-collar crimes try and keep up with their lifestyle, don’t want to be viewed as a failure, or have a propensity toward low self-control or complete control. Sadly, often they usually only have to pay a fine and the people involved are rarely prosecuted. And if they are arrested, they don’t receive lengthly sentences. In addition, people engaged in white-collar crime fly under the radar often-negotiating plea deals; therefore, the public’s interests in these crimes are short lived. If white-collar crimes made there way to the mainstream media as much as violent crimes, and the news media followed-up on the damage these crimes caused to their victims, legislators might be compelled by their constituents to amend the sentencing guidelines making the consequences for these criminals a lot more

#5. Identify the principal agents who expose white collar crime in contemporary society. What factors motivate people to expose such crime, and what factors inhibit them from doing so? What specific policy measures can be adopted to encourage exposure of white collar crime?

Why discuss the development of the marketplace? Why is it central to the concept of white-collar crime?

White-collar crimes are just as prevalent today as ordinary street crimes. Studies show that criminal acts committed by white-collar criminals continue to increase due to unforeseen opportunities presented in the corporate world, but these crimes are often overlooked or minimally publicized in reference to criminal acts on the street. Many street crimes are viewed as unnecessary, horrendous crimes because they are committed by lower class citizens, whereas white collar crimes are illegal acts committed by seemingly respectable people whose occupational roles are considered successful and often admired by many (Piquero, 2014). These views often allow white collar crimes to “slip through the cracks” and carry lesser charges or punishment.

When I say white collar crime a few ideas usually will fill the average persons head. Many will immediately think of Bernie Madoff. This scumbag ran a ponzie scheme spanning multiple decades and made over 60 billion dollars in the process. He was eventually caught and thankfully is spending the rest of his natural born life in prison. Someone might also think of Martha Stewart. Martha, to the surprise of her fans, was much more than that loveable women on the home shopping network or the cooking channel. Martha was caught committing an act called insider trading. According to (The U.S. Securities and Exchange Commission), insider trading is when an individual has knowledge not known to the public about what is going to occur within a company

Most people, when they hear the word “crime,” think about street crime or violent crime such as murder, rape, theft, or drugs. However, there is another type of crime that has cost people their life savings, investors’ billions of dollars, and has had significant impacts of multiple lives; it is called white collar crime. The Federal Bureau of Investigation defines white collar crime as

There are many theories and sub-theories on why white-collar crime occurs, just as there are many theories and sub-theories on why street crime occurs. However, as with any theory dealing with sociology, there are faults as human nature is hard to define generally.

In this day and age, a corporation, family, or individual always has a potential risk of encountering fraud within their money supply. On average, fraud and abuse costs U.S. organizations more than $400 billion annually (Federal Bureau Investigation, 2010). Many may think that white collared crime is only money laundering or stealing, but that is only two out of the sum that countless culprits get away with. The term “white-collar crime,” originally coined in 1939 is synonymous with the full range of frauds committed by business and government professionals (Federal Bureau Investigation, 2010). These frauds include anything from bankruptcy fraud, money laundering, identity theft, corporate fraud to a wide number of threats all circling

The people said, “All might is the dollar.” This quote tells in our society, the money is very important. Some people do anything to earn money, even crimes. This formula applies to rich and poor people. Even though a wealthy person has a large amount of money to spend during his life, behave of human desire it is not enough. The finance crimes committed by a business and a highly educated person or group is called white collar crime. The phrase “white collar crime” was first introduced in 1939 by Edwin Sutherland. He defined the term as “crime committed by a person of respectability and high social status in the course of his/her occupation” (White-Collar Crime). There are so many white collar crimes such as antitrust violation, credit card

White-Collar Crime consists of occupational crime and corporate crime. Occupational crime refers to offences committed against legitimate institutions businesses or government by those with "respectable" social status. It includes the embezzlement of corporate funds, tax evasion, computer crime and expense-account fraud. It is not every day that we hear about white-collar crimes but these non-violent crimes are on the rise to the top. Federal Bureau of Investigation states that USA, for example recorded white collar crimes amounting $300 billion every year (Cornell University, 2010). White-collar crime is relatively a new idea. It has many aspects that are practical for study and further interpretation to clear some of its dark areas. White-Collar Crime was once introduced by Edwin Sutherland in 1939 during his speech in American Sociological Society. The following crimes actually performed are Bribery, Extortion, Insurance, Fraud, Embezzlement, Cybercrime etc. People who participate in these criminal activities are highly powerful and respectful among the society. The following activities include description about White-collar Crime, Investigation of White Collar Crime and The Consequences of committing a White-collar Crime.

White collar crime is not as common as other types of crime but that does not should not go unnoticed. As the rich become richer through these means there should be more laws and statutes in place to prevent this from happening. Money laundering is stealing from the taxpayers themselves or from those giving money to the organization/businesses. There is no reason that many sources are reporting that the amount of money laundried a year is unknown. The number should diminish rapidly until it is gone because it is unjust to have people profit from

Is jail time necessarily a true deterrent to white-collar criminals? Why or why not? Give examples, with explanations supporting your examples.

When an individual becomes a victim of white collar crimes, some people may not notice they are being attacked until days, weeks or even months later. One white collar crime that could be hard to detect is identity theft. Not only have I heard from victims that with our advance technology it could be virtually hard to detect this particular white collar crime, but I’ve dealt with it in the past as well. When a criminal steals someone else's identity, it’s not always obvious immediately. The first sign that may indicate that identity theft has occurred is when people begin to start calling your job, cell phone or home and attempt to advertise information that could be too good to be true (“Identity Theft! A Growing White Collar Crime,”

White Collar Crime has been a problem in society for several years. White collar crime is defined by the Department of Justice as "nonviolent crime for financial gain committed by means of deception" and includes fraud, forgery, and embezzlement. “White Collar Crime consists mainly of crimes committed in the workplace although they are committed outside of workplaces also. Examples include Bank Fraud, Blackmail, Bribery and Computer Fraud to name just a few.” National Check Fraud (1995/2011)