Prepare a written summary drawing on Edwin Sutherlands definition of white-collar crimes two distinct elements. Identify and describe the two distinct elements. Apply the definition to the following categories of white-collar crime: consumer fraud, environmental crime, religious fraud, and corporate fraud, including one specific case example for each of the four categories. Include a discussion of the costs associated with your examples

White Collar crime has a significant and often adverse impacts on society. Although it occurs throughout the world, it is particularly prevalent in developed economies with sophisticated economic systems dealing with financial and asset allocations. White collar crime is particularly damaging as it first infiltrates areas in which the general public is expected to have confidence in the overall operations of the industry. For example, the financial services industry is predicated on integrity and consumer confidence within the system to function properly. When the consumers or users of the system no longer have confidence in its merit, the overall system crumbles. This was seen in the great depression on 1929 when millions of Americans rushed to the banks to withdraw their funds as they believed the system would collapse. Eventually, due to this lack of faith in the banking system and other variables, the system did collapse resulting in the worst economic depression the United States has even seen. In this instances unemployment reached 25%, millions of Americans were in poverty, and the overall economy was in dire straits. In response, the Securities and Exchange Commission, and eventually the Financial Deposit Insurance Corporate were formed to instill consumer confidence. The SEC was designed to oversee the capital the markets in hopes of mitigating the impacts of white-collar crime on the financial services industry and the economy overall. The FDIC was created to provide confidence to consumers related to money they have deposited in the bank. Notice, that even in the great depression, white collar crime didnt just impact the individual, but society at large. When left to its own device, white collar crime can devastate an economy and millions of individuals who were not involved in the crime at all. Societies have realized this concept with many crimes such Bernie Madoff to the great recession of 2008. Although with each instance, society imposes rules to help regulate these occurrences, individuals within society will still find innovative method to commit crimes. Even now, white collar crime continual to mitigate and erode the integrity of the capital markets (Tappan, 1947).

Likewise, society has been impacted by white collar crimes in the pharmaceuticals industry as well. This is particularly pertinent as healthcare costs account for nearly 18% of GDP within the United States. Here executives would use bribes and other kickbacks to incentivize distribution of their drugs. In other instances, corporations would purchase companies that manufactured lifesaving drugs and then raise the price by over 200%. Even if consumers couldnt afford it, pharmaceuticals would raise the prices knowing consumers would find a way to pay for their life saving drugs. A company called Valeant was a heavy abuser of this crime, as these drugs were needed to save the lives of patients and were therefore needed to save lives. Valeant realizing consumers...

Finally, religious white-collar crimes. Religion is particularly powerful due to it ability to create devote followers who disregard the rules the underlie the entire universe. Christianity for example, purports that one man, Noah, collected two of every species on the face of the earth. Study after study has shown this is not true but it is heavily believed within Christian circles. Likewise, many Christians believe that a man was swallowed by a whale and lived, a burning bush can talk, men can walk on water and many other supposed occurrences that defy the rules of both logic and reasoning. Due to these white-collar crimes are perpetrated by individuals looking to leverage these absurdities in reasoning. Christian preachers, such as Benny Hinn have scammed millions upon million of their devote follower. Research has shown the Benny Hinn has faked the healing in his Miracle Crusades. This wouldnt be an issue except that millions of people around the world believe Benny can heal afflictions such as cancer, cerebral palsy, and blindness with a single touch. Videos such Benny healing people in wheelchairs who couldnt walk, which was later found to be fake and staged. Still even being exposed for a fraud, he still commands audiences worldwide believing in his preachings. This is dangerous as people often neglect medical treatment believing Benny Hinn can heal them. Still others regard doctors as the Devil and neglect routine checkups. These individuals believing a fake preacher, performing fake miracles, ultimately will be…