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White Collar Crime Control Theory

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This paper aims to provide the reader with understanding of white collar crime and more specifically on money laundering. The strain theory will be discussed in further detail to show how it explains money laundering. Control theory will also be discussed to show how it does not explain money laundering. The two theories will help the reader the understand why it is the crimes are committed. First, I will give an overview of what white collar crime is. I will then explain money laundering specifically. I will also briefly discuss the statute currently in place for money laundering and what is being done to prevent it from happening. Then I will connect money laundering to the movie American Hustle. This will allow the reader to connect the crime to a modern day example. Finally, I will end with my conclusion and shed light on the answered questions and challenges on the topic.
While white collar crime can be defined in various ways, in the textbook, Understanding White Collar Crime, it is defined as “crime committed by a person of respectability and high social status in the course of his occupation”
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The statute regarding money laundering is Section § 1956(a)(1). To prove the statute has been violated, “The defendant conducted or attempted to conduct, financial transaction” (Strader 295). This means that there has to be sufficient evidence to show the person was conspiring or has actually committed the act of money laundering. Although this is in place, money laundering is still happening. Money laundering is not a crime that takes place in one location, but rather all over the world. There should more done to enforce the monetary transactions of companies. I believe if there were more audits on corporations, more white collar criminals would be caught. Because most places are not strictly monitored, they can get away with money
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