Bank Fraud

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

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.

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

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, 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

In the twentieth century, White Collar and Organized Crimes have attracted the attention of the U.S. Criminal Justice System due to the greater cost to society than most normal street crime. Even with the new attention by the Criminal Justice System, both are still pretty unknown to the general public. Although we know it occurs, due to the lack of coverage and information, society does not realize the extent of these crimes or the impact. White Collar and Organized is generally crime committed by someone that is considered respectable and has a high social status. The crimes committed usually consist of fraud, insider trading, bribery, embezzlement, money laundering, identity theft or forgery. One

White Collar Crimes are crimes performed by a higher class of people which the reason of committing this category of crime has good intentions. We have learned in past lectures of Sociology of Punishment and Crime that strain theory is a social structure that pushes some individuals to commit crime. In this case (white collar crime), the theory is explaining how to reach a goal of an organization, incorporation, etc., where the people performing the work are being involved in frauds, copying, cheating and many other ways of committing a corporate crime. A condition to commit white collar crime you have to have a criminogenic opportunity, which it means you have to be in the right corporation where this is a normal action taken to reach the goal or achieve the status level in work field desired.

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

ccording to Conklin (2013), white-collar crime is an unlawful act that is occurs during a legitimate occupation or venture by a corporation or an otherwise reputable person of great social prominence that is punishable by a criminal sanction. In the example of Wayne Baker and Robert Faulkner’s (1993) analysis of three price-fixing conspiracies, white-collar criminals will at times create arrangements within or across formal organizations for purposes of effectively executing an unlawful act. For example, insider trading occurs when someone within an organization utilizes nonpublic information for gain for individual or organization gain, and is difficult to police attributable to the complexity of inter-organizational networks (Conklin, 2013).

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

White collar crimes are committed by middle of a higher status in any given occupation. These crimes often involves a validation of trust from a valued employee within a company. These crimes can include trade secrets, fraud, money laundering, identity theft, and healthcare fraud. The people committing these crimes come from a higher class and you wouldn’t thinking someone is poor would commit a crime like this in nature. The media always bring to our attention since the 1990’s about the amount of white collar crimes happening in the United States. A few large companies like Enron, Madoff, Tyco Toys and some other companies were faced with prison sentences for their greed and personal vendettas. The world as a whole started opening their eyes and seeking knowledge about corporations and private companies to understand the corruption CEO’s, lawyer, and trading companies. White collar crimes are happening more often than in previous years. The media has tried to keep the public aware of the amount of white collar crimes that are occurring and the justice systems is taking too long to address the problem. Although, white collar crimes are non-violent and doesn’t pose a direct threat like other crimes it still can cause a personal or public perception that is violent in nature. When people lose their life saving, house, cars, retirement money, and stocks it is hard to say you won’t get violent when you know this person has taken everything you own for their personal gain. Scams

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

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 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 1939, American sociologist Edwin Sutherland introduced the phrase “white-collar crime”. White-collar crime is a nonviolent crime committed by a business or large corporations. They are usually scams or frauds to gain wealth in society. The people who are guilty of this crime lie, cheat and steal from investors of their company or business. Even though these crimes are non-violent, they have major impacts on the society. Their companies become non existent and families get destroyed. All of their life savings and savings for their children get taken away, and they become bankrupt. Not only does it affect their families, the investors who believed in their business lose millions or even billions of dollars.