Exercise 3: White Collar Crime. In A Looking Glass Of A

1448 WordsMar 22, 20176 Pages
Exercise 3: 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. The Libor Scandal began in the year of 2012. In 2003, a major outbreak investigation started due to reliable banks being a prime source of manipulation of interest rate, affecting many in the benefit of…show more content…
There by contributing to white collar crime because states have as grey of spectrum to commit these crimes as well. Libor scandal can also be associated with: strain theory, differential association, conflict theory, and control theory. Strain theory: “a theory that addresses the relationship between having socially acceptable goals and having socially acceptable means to reach those goals.” (Mcbride, James) Inferring, that the Libor Scandal had to get approved by the most powered, associates below were pressured to meet these requirements to fit in the business social world (trying to reach major profits) there on leading to commit these crimes. Differential association theory: “a theory that states individuals learn deviant behavior from those close to them who provide models of and opportunities for deviance.” (Mcbride, James.) Looking up to someone in power can influence and push a lifestyle of breaking the roles. Making it okay due to role model of higher statue doing so. One associate following all the behaviors, to reflect outcome of the higher statues role model. This could have been mimicked in the Libor scandal due to one person doing so and many others then following to reach goals that could be achieved if just doing basic manipulation. Leading actions to turn into crimes but socially excepted by the social circle. Conflict theory: “a theory that examines social and economic factors as the

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