Bank Fraud

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

What is a White Collar crime? It’s a crime that is committed in high business positions, but it can be

White collar crime, as a rule, is less visible than conventional crime. A white collar crime, by definition, is a non-violent act involving deception, typically committed by a business person or public official. lawyershop.com

White-collar crimes are referred to as crimes that are financially motivated crimes and are usually committed by business and government professionals. As for corporate crimes they are crimes that are usually committed by a corporation or by an individual working for a corporation. Some people have argued that to many regulations can actually cause and increase in corporate misconduct. Regulations that are to complex, extensive, or outdated can actually lead an organization to disregard them there for it leads to intentionally breaking the law. It is important to be able to detect white-collar crimes and corporate crimes. Lack of understanding the economic and business stand point

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

A white-collar crime by definition is a crime that is committed by individuals of higher status. It is not necessarily a violent crime, but could be depending on the situation. An individual who works in a professional environment, such as the government or corporation tend to take advantage of employees and manipulate them into thinking their practices are legitimate. Some examples, of white-collar crimes include fraud, embezzlement, insider trading, and other various crimes. However, individuals who involve them selves in drugs or stealing someone’s personal possessions commit street crime. For example, it tends to be violent depending on the situation and it usually happens in a public place or

White-collar crime is defined as the financial motivations of non-violent crimes that are committed by professionals of business and those of the government. In the field of criminology, Edwin Suthelan (1939), a socialist who was the first person to define white-collar crime as a crime that respectable and those people of higher social status commit. The crimes include those associated with fraud, bribery, embezzlement, cybercrime, money laundering, theft of the identity and many more crimes that are nonviolent. For the white collar crimes, the offenses committed should produce some gains financially. The crimes are thereby committed by those persons holding various positions in businesses or organizations, and it is because of this position they can gain access to amounts of huge money that they get from the people like customers with whom they serve. The criminals involved are not caught in activities that are violent, involved in drug issues or illegal activities.

His interest wasn’t so much why someone deviates but why the rates differed dramatically from one society to another. Merton also changed the concept to where there is an apparent lack of fit between cultures norms, about the apparent lack of success and the appropriate goals to achieve them. He believed the United States puts more emphasis on success, and anomie –strain becomes the explanation for high rates of deviant behavior in the U.S. compared with other societies, and also an explanation for the distribution of deviant behavior across groups defined by class, race, and ethnicity. The U.S., in fact, Merton sees as an example of a society in which success goals (often defined primarily in monetary terms) are emphasized for everyone in the culture, and people are criticized for not performing to their best ability.

Merton developed a ‘strain theory’ building on Durkheim’s work. He said that crime was largely committed as a result of individuals not being able to achieve the goals impressed upon them by society (in his case the American Dream). This led people to turn to unconventional means in order to achieve these goals as they believe that happiness wealth and success are all interchangeable. While Merton does accept that everyone is different, he categorizes people into 5 adaptations to the strain; conformity, innovation, ritualism, retreatism and rebellion. Merton can be criticized as it is hard to believe that all people fit into 5 distinct categories with no overlaps. Furthermore Merton fails to explain non - utilitarianism crime, lots of crime is committed which does not financially benefit the criminals for example vandalism. Merton also fails to explain crime and deviance that isn’t committed as an individual

In this paper the exciting criminal phenomenon known as white-collar crime will be discussed. Corporate Crime and Computer Crime will be discussed in detail. Crime preventative agencies such as the NCPC (National Crime Prevention Council) will also be researched. White Collar Crime The late Professor Edwin Sutherland coined the term white-collar crime about 1941. Sutherland defined white-collar crime as "a crime committed by a person of respectability and high social status in the course of his occupation" (Siegel 337) White-collar crime includes, by way of example, such acts as promulgating false or misleading advertising, illegal exploitation of employees, mislabeling of goods, violation of weights and measures statutes, conspiring to

In American society money is seen as the purpose of life, overemphasized. In attaining that money, for some individuals is not always great but the money in the end, the goal, is greater. Success is attainable for everyone which leaves failure to be the fault of the individual. Merton described five modes of adaptation, depending on the individual's attitudes toward cultural goals and institutional means to attain them. The first approach to the adaptation of strain in society is Conformity, the most common. Individuals accept both the goals as well as the advised means for attaining those goals. The last four adaptations Merton described were seen as deviant; Innovation, Ritualism, Retreatism, and Rebellion. Individuals

In this paper the exciting criminal phenomenon known as white-collar crime will be discussed. Corporate Crime and Computer Crime will be discussed in detail. Crime preventative agencies such as the NCPC (National Crime Prevention Council) will also be researched. White Collar Crime The late Professor Edwin Sutherland coined the term white-collar crime about 1941. Sutherland defined white-collar crime as "a crime committed by a person of respectability and high social status in the course of his occupation" (Siegel 337) White-collar crime includes, by way of example, such acts as promulgating false or misleading advertising, illegal exploitation of employees, mislabeling of goods, violation of weights and measures statutes, conspiring to

White collar crime has been recognized as something that is an issue since 1939 when it was brought up in a political meeting by Edwin Sutherland. Sutherland was interested in the fact that people of the working class were not being noticed for the crimes that some of them are involved in. The concern was that the criminal activity that was being addressed during this time were predominantly trivial crimes. While they were getting all the attention while corporate criminals were going virtually undetected. The definition Sutherland attached to these criminals was centered on the varieties of crimes that they committed. White Collar crime is defined as a criminal act perpetrated

Many organizations have been in the news over the past few years due to accounting ethical breaches that have affected their customers, employees, and the general public. I searched the Internet to locate a story in the news that depicts an accounting ethical breach. I selected Krispy Kreme. I enjoy their hot donuts and was curious to learn more about how they played with the numbers. For some reason I always want to dig into the trickery behind the manipulation of financial statements.

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.