Sunday, May 17, 2020
White-Collar Crime Essay - 1057 Words
Today, worldwide, there are several thousands of crimes being committed. Some donââ¬â¢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 forms of bribery and embezzlement have been around longer than dirt. The earliest white-collar crime, that was documented, dates back to the 15th century in England. The law was forced upon society in 1473 in response to embezzlement, or also recognized as the Carrierââ¬â¢sâ⬠¦show more contentâ⬠¦It wasnââ¬â¢t long until nations across the world recognized this act and instituted laws as well. For instance, Poland passed anti-money-laundering legislation among others (ââ¬Å"The Evolution of Whit e-Collar Crimeâ⬠). High-profile white-collar crime has a few complicated financial terms and violations. The first is insider trading, which is referring to buying or selling a companyââ¬â¢s stock while knowing or possessing non-public information. For instance if the employee was to tell a friend important company information and the friend trades that corporations stock, both will be indicted. The next is securities fraud, which involves deceit of a companyââ¬â¢s performance. This dishonesty manipulates the market, which results in people making bad investments. The third violation is antitrust, which is also considered as monopoly values. For example, abusing the power of price fixing, or artificially raising prices beyond competitive market values. The last crime is bribery; quid pro quo plays a huge role in this specific violation. For instance, where someone gives a gift or does something to please upper management in exchange for a favorable act (ââ¬Å"High-profi le White-Collar Crimeâ⬠). While the criminal commits these crimes, they seem to forget the ripple effect that this can cause in a business and society. They think theyââ¬â¢re cheating the business out of money and have a worry free future lying rightShow MoreRelatedWhite Collar Crime1488 Words à |à 6 PagesWelcome to the age of white collar crime. A time when the words thieves and businessmen go hand in hand. White collar criminals dont 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 WhitewaterRead MoreThe And White Collar Crime897 Words à |à 4 Pages1. Literature Review Crimes have been occurring in our society for many years and recently the occurrence of non-violent crimes has increased dramatically. Traditional and white collar crimes have two traits in common, an objective and a modus operandi, but the major difference is that a white collar criminal has a plan and also the ability, knowledge and technology to execute it (Nevis, 2012). White-collar crimes can occur at any occupational level and affects all parts of society, from big businessesRead MoreWhite Collar Crimes And Street Crimes1431 Words à |à 6 PagesCrimes are one of the many things that all humans have in common. Whether it be a serious crime or not, everyone can commit a crime and go to jail for it. There are two types of crime that can be considered complete opposites of each other. They are white collar crimes and street crimes. White collar crimes are considered nonviolent crimes committed by a person of respectability and high social status in the course of his/her occupation such as fraud, embezzlement, or bribery. On the other hand,Read MoreBlack Collar Crimes And White Collar Crime1956 Words à |à 8 Pagesexplaining what white collar crime in its introduction. The paper will then explain the distinct types of white collar crimes, after that different case studyââ¬â¢s will be presented from the book to give examples of the diverse types of white collar crimes. After that the paper will talk about the diverse ways to combat white collar crimes while also going over the challenges law enforcement face when fighting white collar crime. Finally, the author will give his conclusion on white collar crime. Read MoreWhite Collar Crimes And Street Crimes1083 Words à |à 5 PagesWhite-collar crimes are just as prevalent today as ordinary street crimes. 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Second causes of white collar crime are workersRead MoreWhite Collar Crime And Corporate Crime1158 Words à |à 5 PagesWhite-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 recordedRead MorePunishment For White Collar Crimes Essay1533 Words à |à 7 Pagesdoorsâ⬠(Smith and Howat 109). White-collar crimes are explained in ââ¬Å"White-collar crimeâ⬠as, price fixing, false advertisement, and wiring and tampering with accounts belonging to anyone other than, in this case, the criminal (Levenson). With the advancements in techno logy and increase in satellite towers breaching financial accounts or even obtaining financial information has become effortless. Criminals commit the crime to improve their social status. These crimes do not include physically harmedRead MoreBlack Collar Crime : White Collar1828 Words à |à 8 PagesIntroduction: Sometimes known as the ââ¬Ëvictimlessââ¬â¢ crime, White Collar Crime includes crimes such as fraud, embezzlement and, more often than not, results in the criminal profiting money-wise which is one of the biggest lures into White Collar Crime (WCC). WCC, has become more and more easier and accessible as businesses move closer towards technology and further away from paper documents which makes it easier to commit WCC as, if you knew what you were doing, you could cover your tracks easier thanRead MoreThe Age Of White Collar Crime1463 Words à |à 6 PagesWelcome to the age of white collar crime. A time when the words thieves and businessmen go hand in hand. White collar criminals donââ¬â¢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
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