White Collar Crime

Criminals walk amongst us everyday. When people hear the word criminal, “murderer”, “robber”, and “arsonist”, are what most people think of. No one thinks about the CEO of a billion dollar company, the everyday pharmacist, or even a trusted personal financial advisor. This is due to the “respectability” and “high social status” these occupations hold (Temchenko, 2016). Of the many crimes committed every year, white collar crimes are one of the most highest crimes committed because they are overlooked. On July 28, 2016 , 14-year-old Bresha Meadows, who had no prior record of violence, was arrested and potentially up for a life sentence in prison for saving her family from more domestic abuse by shooting her father (Jeltsen, 2016) . In 2003 the former chairman and chief executive of MCSi Michael E. Peppel, who pleaded guilty to conspiracy, money laundering and filing false documents with the Securities and Exchange Commission was only sentenced to spend seven days in prison because Peppel was a “remarkably good man”. The charges against Peppel carry a minimum 8 year sentence (Henning, 2013). Sentencing disparities between white collar crime versus street crime is a crime within itself and some form of justice needs to be served.

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.

Why discuss the development of the marketplace? Why is it central to the concept of white-collar crime?

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.

Britain had a society from 1600 to 1650. Britain's populations in 1600 was four million, one hundred and ten thousand people. In 1650, Britain’s population increased by 29 percent which, made the population 5 million, 3 hundred and ten thousand people. From 1600 to 1650 most people Britain were very poor because they were paid too little for their jobs. They also were forced to loan the king some money and if they don’t they were punished. Most people had jobs during that time. People had a hard life in Britain from 1600 to 1650. There were also crimes back then and theft was the most common crime in british history from 1600 to 1650.

White collar crime is prevalent and brought to our attention more and more by the media since the mid to late 1990s. With the downfall of companies such as Enron, Tyco Toys and WorldCom MCI white collar criminals are facing lengthy prison sentences. Greed and personal vendettas are what have led our country to understand and gain more knowledge about these corporations and the corrupt CEOs that have brought them to their demise.

“Blue collar and violent crimes have such a strong presence in the media and everyday life, but so little economic effect, a greater focus needs to be on what is causing more destruction to the economy: White Collar Crime.” (Graham 8) In today’s society, however this practice not only occurs in the United States, but in several developed and developing countries around the world. White and blue collar crime are universally classified as the same offenses, however different countries have varying understanding and approaches towards white and blue collar crime; which can have an effect on whether the media encourage or discourage white and blue collar crime, as well as how white and blue collar crime techniques have evolved with technology

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.

Is jail time necessarily a true deterrent to white-collar criminals? Why or why not? Give examples, with explanations supporting your examples.

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.

David O. Friedrichs provided more accurate definition of occupational deviance because the term seems to be applied to activities drifted away from the original meaning of White Collar crime. It’s blended with the term conventional crime. Edwin Sutherland introduced the concept of white-collar crime in 1939. There were conceptual confusions with the term occupational crime, occupational deviance, and workplace crime because these terms are combined with white-collar crime. Friedrichs (2002) defined occupational deviances as “characterized as activity undertaken for one’s own gain, or to cope with workplace stress, and not for the benefit of one’s employer or organization” (p.249).