Scams As A Victimless Crime

Almost every individual has become victimized in various capacities at one point by white collar crime (Friedrichs, 2010). Due to this, victimization of white collar crime it is highly disseminated and distributed. As a result, the aspects of the victims is highly heterogeneous (Friedrichs, 2010). In addition, even though white collar crimes are serious and cause harm many types of white collar crime are not generally considered to be a crime and the individuals affected are not considered victims. Some victims of white collar crime include employees who work in unsafe and unlawful conditions, consumers who are sold unsafe and price-fixed products or consumers who are victimized by deceitful and unethical practices (Friedrichs, 2010). Victims can also be differentiated into personal victims, organizational victims and tertiary victims such as the community (Friedrichs, 2010). There is insufficient information to claim that one group of individuals is statistically more likely to become victims of white collar crime because in general an individual is less likely to know that they have

Ponzi Schemes also known as a multi-marketing organization are white-collar crime; it is essentially an individual swindling a quick investment from new investors. Always ends up with investors or victums losing “their shirt” all the profits and many cases the company and is bankrupted and the owner ends up in jail. Two very highly successful Ponzi schemes are Primerica group and Amway. Primerica Group sells insurance and financial services and Amway sells heath insurance, but it doesn’t matter what they sale, its all about recruitment. They take your hard earned money and invest it into there business for a bigger profit in the future for a retirement but many people who try to get some of there money back for emergency are sadly mistaken

Cybercrime has experienced significant progress during recent years, as its advance is directly proportional with the advance of technology. In spite of the fact that the authorities devise new and better strategies to fight cybercrime, the fact that the number of people online is constantly increasing means that cybercrimes occur even more frequently. Dishonest people who seek opportunities have discovered how the internet stands as a perfect environment for them to commit crimes by taking as little risks as possible. Computer fraud generates a series of benefits for the person committing it, as he or she can either profit financially from the enterprise or can simply alter files in order for his or her image to be positively affected. Identity theft is a major form of cybercrime and it is essential for society to acknowledge the gravity of the matter in order to be able to effectively fight against criminals using it.

The question before our society is not whether corporate crime is a victimless crime, rather the question is what should be done about it? Corporate crime doesn’t just do harm to the investors that can be unknowingly damaged by these crimes, it has a much more insidious nature to it as it has done harm on global scales. Corporate crime is almost a misnomer because many of these criminal wrongdoings are for the most part legal, when not taken to their ultimate conclusion. Society within the United States has been taught that the man in the brief case, yelling at other men in dark coats on the flow of the stock exchange are the smartest guys in the room. This paper will attack that idea on many levels, the first salvo will be

Embezzlement seems to be a white collar crime that is victimless. However, when monies are embezzled from a non profit it affects all those involved especially those benefitting from the work of the nonprofit organization. I thought of our local community nonprofit arts foundation. They not only produce a full slate of shows each season, but also provide classes in painting, sculpting, drawing, acting, music, and dance. If they were defrauded in the amount of $93,000 it would affect educational programs and community outreach.

In December 2008, one of the largest Ponzi scheme surfaced when Mark and Andrew Madoff reported the works of their father, Bernard Madoff to the federal authorities. A Ponzi scheme is an investing scam that promises high rates of return with little risk to investors. The operator generates returns for older investors by gaining new investors. Bernard was arrested on December 11, 2008 and charged with securities fraud. He pled guilty to 11 counts and was sentenced to 150 years in federal prison-the maximum possible prison sentence. A reported $17.3 billion was invested into the scam by Bernie’s clients and only about $2.48 billion have been returned to these victims as of September 2012.

Victims can be an individual, a group of individuals, (such as customers of a bank), or an organization and any of them may experience astronomical financial losses (Hayes & Prenzler, 2009). Some of the most notorious examples of the harmful effect of white-collar crime is the collapse of the US company Enron, with losses of over USD$50 billion (Friedrichs, 2004) and in Australia, the collapse of insurer HIH Insurance with losses of over A$4 billion (HIH Royal Commission, 2003. cited in Hayes & Prenzler, 2009). Research indicates that crimes of this magnitude play a vital role in causing or contributing

It was June of 1993. My dad, Ernest Scammell, was stationed in Leticia, Columbia, and my mom, Briahna Scammell, was in the city as well. The whole city was partying and there was a parade honoring Miss Columbia, who had won second place in the Miss Universe pageant. Both of my parents, my dad with his air force buddies, and my mom with her friends, were out on the town unknowingly about to meet each other. Now, my dad tells this story all the time. He says “The whole busy street of partying people went silent as soon as I saw her. Like they weren’t even there.” However, this is not the ending, this is hardly the beginning.

Two students in the Truman school had unraveled the secret illegal scam of the Red Diamond Energy Corporation (RDEC). All this secret illegal scam started on the day Drake McBride had first joined and became the principal of the Red Diamond Energy Corporation.

Decriminalization of victimless crime is a topic that occur often in current events. With the overdose suffered by Lamar Odom in one of Nevada’s Brothel is a most recent example., Presently legalizing Marijuana is the hot topic. Others have argued for legalization of other victimless crimes, such as prostitution and assisted suicides. Some of the arguments that have been made concerning victimless crimes are that the criminal justice system is already backed up and who has moral authority to criminalize activities that two consenting adults agree to make. These crimes are considered illegal because government agencies have declared them illegal. Prostitution has been made legal in Nevada under state supervision Brothels have been created allowing

In the late 19th century, seller of "snake oil" sold a placebo stating this oil can cure headaches which significantly led to other marketers creating placebos and selling this to millions of citizens (The Irresistible Lure Of The CON ARTIST). Con artists disguise themselves as innocent citizens advertising a product hoping to award success, thus the reason customers agree to buy such products that achieve false hope. Maria Konnikova claims that Con artists will hide their sinister looks by masking their presence as a presentable person. 35% were seen as friendly, and 40% were seen as respected (The Irresistible Lure Of The CON ARTIST).

“Girl, I watched the interview on Saturday. Marinette, you were completely spontaneous! You and Adrien make such a cute couple, so why didn’t you enlighten your best friend about you guys going out?” Alya asked dramatically while she wiggled her eyebrows suggestively.

I agreed with you that money is the motivation and this can turn into addiction. However, I disagree with you that white-collar crime is victimless crime because it is a crime against an institution not a person. White-collar crime can be against an institution or an individual. Regardless who they steal from, they are stealing from someone who owes that institution or the government and the people are the government. For example a teller who steals from bank is not stealing from the bank directly per se; they are stealing from customers like you and me. Look at the most recent fiasco with Wells-Fargo where they were charging customers fees for unauthorized accounts. These people were not stealing from Wells Fargo, they were sealing from customers.

Ponzi schemes are when someone offers to make investment for you with a phenomenal return, but never really does the investing and takes your money. Pyramid schemes are fake opportunities to make money selling products or investing. Scammers get you to pay a fee up front but never provide information. Ponzi schemes and pyramid schemes are similar because they are highly damaging to consumers and the financial industry. Basically they steal money and deplete people’s lifetime savings.

A Ponzi scheme is an illegal business practice in which new investor’s money is used to make payments to earlier investors. In many Ponzi schemes, the fraudsters focus on attracting new money to make promised payments to earlier-stage investors and to use for personal expenses, instead of engaging in any legitimate investment activity. The returns are repaid out of new investors’ principal, but not from profits. This can continue as long as new investors line up with cash, and old investors don’t try to withdraw too much of their money at once.