The White Collar Crime And Economic Crimes

White Collar crime is not a crime unto it self, but instead a criteria that has to be met in order for a crime to be considered as White- Collar Crime; (Blount, 2002) hence the reason why Corporate Crime is also considered as White- Collar Crime. At the same time, White Collar Crime and Corporate Crime can be seen as distinct criminological categories, however, in order to reveal this, this essay will firstly be exploring Sutherland's definition of white collar crime and the perplexity with this definition of white-collar crime. It will then be looking at the modification which had to take place with Sutherland's definition of white-collar crime in order to established a distinction between white-collar and corporate crime.

Today, worldwide, there are several thousands of crimes being committed. Some don’t necessarily require a lethal weapon but are associated with various types of sophisticated fraud, this also known as a white-collar crime. These crimes involve a few different methods that take place within a business setting. While ethical business practices add money to the bottom line, unethical practices are ultimately leading to business failure and impacting the U.S. financially.

The historical development of the marketplace is important to study in relation to white collar crime because it demonstrates how and why white-collar crime was created. For example, when there is no marketplace, there is no white-collar crime. White collar crime is an outgrowth of the market becoming more complex. For example, with the emergence of the middle class, the division of labor was eventually created. The division of labor consisted of labor being divided by different workers or sections. This division creates a compartmentalization of the creation of products and avoids blame on one individual if a product was created faulty.

White-collar crimes are just as prevalent today as ordinary street crimes. Studies show that criminal acts committed by white-collar criminals continue to increase due to unforeseen opportunities presented in the corporate world, but these crimes are often overlooked or minimally publicized in reference to criminal acts on the street. Many street crimes are viewed as unnecessary, horrendous crimes because they are committed by lower class citizens, whereas white collar crimes are illegal acts committed by seemingly respectable people whose occupational roles are considered successful and often admired by many (Piquero, 2014). These views often allow white collar crimes to “slip through the cracks” and carry lesser charges or punishment.

In his article, Edwin H. Sutherland examines “white-collar crimes.” Sutherland first starts the article off by defining what exactly is a “crime.” Sutherland goes on to describe and discuss the antitrust laws. Next, he describes the Sherman Antitrust Act, and that it states that any violation of the law is a misdemeanor. Then, he discusses the three methods that are used to enforce the Sherman Antitrust Act. He then goes on to explain the laws regarding infringements of the law. He also discusses the law in regard to financial manipulations. He goes on to discuss the stigma on white-collar crimes and juvenile delinquency. He the discusses the laws for business regulations, and the consequences in violating this laws. Next, he explains the three

White collar crime is nothing but profiting one person or organization by violation of principals, rules and regulations of a particular organization. White collar crimes completely deals with motivation of gaining more money. Conventional crimes are different in nature such as robbery, murder, rape and physical harassment. The motivation behind the conventional crime is unlimited. Every crime has its own reason for doing it. There are number of differences between conventional crime and white collar crime such as motivation, execution, who will be effected, how long it take to recover, victims of the crime and so on. Though the conventional crime seems to be small in nature, but the effect will in wide areas of the society.

Coming from the small town of Burlington, nothing really happens especially when relating to fraud; or so I thought. Before this class began I never realized how much fraud occurs until starting this project. Being a Criminal Justice Major at Salem State, I constantly think of crime and I recall in my Criminal Justice Class, CRJ 250 Theories of Crime, my professor did an exercise that really impacted the way I think about crime. She made us all write down a crime we can think of, anything. Then we listed it and many crimes repeated, such as rape, assault, and drug usage. And out of every single person, not one person said white collar crimes. The news does not give white collar crimes any attention because in truth, it is not as “view worthy”

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.

Welcome to the age of white collar crime. A time when the words thieves and businessmen go hand in hand. White collar criminals don't get their hands dirty in their work. They use their heads to get what they want instead of using a little muscle. These criminals are just as dangerous as the rapists and murderers. In these times, even the most seemingly respectable people are suspected of white collar crimes. President Clinton and the first lady Hillary Clinton have been tangled up in the Whitewater and Travelgate business ventures. Although the two have not been formally charged with any wrongdoing, there is a committee currently investigating their dealings and charges are not out of the question for either of them. In Michael Isikoff's

There are many theories and sub-theories on why white-collar crime occurs, just as there are many theories and sub-theories on why street crime occurs. However, as with any theory dealing with sociology, there are faults as human nature is hard to define generally.

In this day and age, a corporation, family, or individual always has a potential risk of encountering fraud within their money supply. On average, fraud and abuse costs U.S. organizations more than $400 billion annually (Federal Bureau Investigation, 2010). Many may think that white collared crime is only money laundering or stealing, but that is only two out of the sum that countless culprits get away with. The term “white-collar crime,” originally coined in 1939 is synonymous with the full range of frauds committed by business and government professionals (Federal Bureau Investigation, 2010). These frauds include anything from bankruptcy fraud, money laundering, identity theft, corporate fraud to a wide number of threats all circling

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.

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 is a serious issue in the United States. White-collar crime is “a crime committed by a person of respectability and high social status in the course of his occupation” (cornell.edu). Examples of such offenses include bribery, credit card fraud, insurance fraud, bank fraud, blackmail, extortion, forgery, securities fraud, tax evasion, embezzlement, repair scams, Ponzi and pyramid schemes. These non-violent crimes are responsible for an estimated $250 billion to $1 trillion in economic damages each year (Martinez). Individuals who commit white collar crimes have an increased likelihood to experience injustice compared to those who commit a street crime as noted in multiple studies detailed in various scholarly articles. Also, street criminals have a greater chance of getting caught in their wrongdoings versus white-collar criminals. Those who commit white collar crime make their decisions based on the philosophy or idea that their actions have low risk and a high reward. We face a dilemma in the United States because white-collar criminals are treated with minimal, inequitable punishment due to their social status, whereas the street criminals are treated with the correct, impartial punishment.

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