White Collar Crime Is Now Becoming More Widely

Better Essays
In today’s society, white collar crime is now becoming more widely known because of the advancement of technological devices and brilliant minds. In fact, over 730,000 counts of suspected financial wrongoing were recorded in America last year, according to recent data from the Treasury Department 's Financial Crimes Enforcement Network (The Economist, 2009). White Collar Crime is a term reportedly coined in 1939—is now synonymous with the full range of frauds committed by business and government professionals including one of the many called “Check Kiting” (FBI, 2010). White collar crime is described by the federal bureau investigation (FBI) in three words: Lying, cheating, and stealing which is exactly the kind of people that Scott in this case analysis has to deal with. In this case, the Operations Manager, Scott at a small bank has the duties of overseeing transactions and defining clients who use bad checks. While going through the daily routine, he finds that his wife’s friend, who is the chief financial officer of the bank, appears to be involved in check kiting. According to the business dictionary, check Kiting is a form of check fraud, in which checks are issued against funds that a bank has credited into an account for deposited, uncleared checks. With careful timing of deposits and withdrawals, this scam can be turned into a large sum. Furthermore, In addition to knowing the suspect, Scott also is aware the CFO is also involved in an unsteady
Get Access