White-Collar Crime Discussion
White-collar crime differs significantly from street crime. In addition to having varying punishments and penalties, each classification of crime in this case has unique targets. It should, however, be noted that in most cases, both classifications of crime tend to be intentional and well-planned.
Impact of White-Collar Crime
According to Edwin H. Southerland (as cited in Vito, Maahs, and Holmes, 2005, p. 411), a white-collar crime could be defined as "a crime committed by a person of respectability and high social status in the course of his occupation." The perpetrator of white-collar crime could, therefore, be an accountant, professional banker, fund manager, etc. In most cases, white-collar crime is motivated by, amongst other things, financial gain. According to Vito, Maahs, and Holmes (2005, p. 412), "white-collar offenses are as harmful to the public as street crimes."
To individuals, white-collar crimes could lead to financial turmoil, extreme stress, and ill health as a result of emotional turmoil. In the words of Croall (as cited in Davies, Francis, and Greer, 2012, p. 90), fraud and economic harm victims "report feelings such as bitterness and anger, depression, general health problems and loss of work." White-collar crime, when it comes to business, could trigger heavy business losses and a soiled reputation even for the most successful business enterprises. This is more so the case given that businesses have to incur the cost of investigations into allegations or instances of white-collar crime, prosecute perpetrators, compensate victims, and conduct damage control. To the society, white-collar crimes could be even more devastating than other forms of crime (Ferguson, 2010). This according to the author is particularly the case given that "white-collar crime has a far greater reach; both in terms of how long the effects last as well as how many others are affected" (Ferguson, 2010, p. 41). Amongst the masses, the most common health problems...
White Collar Crime on the Economy and Society The objective of this study is to examine the impact of white collar crime on the economy and society. White Collar Crime is reported to be a term that Edwin Southerland, Sociologist of Criminology defined and one that identifies "those illegal non-violent activities that involve traditional notions of deceit, deception, concealment, manipulation, breach of trust or illegal circumvention." (Soto, 2008, p. 1) These
White Collar Crime Theories, Laws and Processes Explain white collar crime in terms of various theories related to criminology and crime. A white collar crime is an illegal and unethical act that violates public trust (Friedrichs, 2010). Common examples include misrepresentation, stealing, misappropriation, self-dealing, and corruption (Echols & Richardson, 2011). Most are crimes of opportunity and hold similar characteristics to corporate crime -- fraud, insider trading and other illegal acts of a
In an environment where violent crimes outweigh white-collar crimes, the prosecutor will allocate his resources to fighting violent crimes. Resource availability thus determines how many cases will be pursued by the prosecutor's office. The prosecutor may also evaluate the type of crime affecting an area. This will enable the office to pursue a tougher sentence for the crimes in the area. The increase in white-collar crimes has forced the
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White Collar Crime: When most people think of white collar crime today, they think of Enron and Martha Stewart -- or of a nebulous idea of a kind of crime that only the "upper class" or the very powerful occasionally engage in. However, white collar crime is actually pervasive across all sectors of American society. Although many might imagine that white collar crime is essentially "victimless" in comparison to other criminal
White Collar Crimes Criminality Theories A white collar crime can be simply defined as the framework that instigates immoral actions that don't always endanger lives but do harm the society in one way or another (Freidrichs, 2010). The aspects or factors that might thus be considered by white collar theories to validate a crime as a white collar crime include the following: It is defined illegal: no act if officially legal or illegal
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