· In general, white-collar crime is viewed as a type of nonviolent crime often committed by middle or upper level management and performed as a means to derive financial benefit in professional or commercial circles · The paper focuses on specific aspects of white collar crime. The paper primarily focuses on answering two questions directly related to white collar crime. The first question is a comparative analysis focusing on the laws on white collar crime within the The National White Collar Crime Center in , defined the term as “illegal or unethical acts that violate fiduciary responsibility or public trust, committed by an individual or organization, usually during the course of legitimate occupational activity, by persons of high or respectable social status for personal or organizational gain” (Helm Kamp et al, , p)
White-Collar Crime Essay - Words | Bartleby
There is a common misconception that the white-collar crimes do not have victims, and thus they are not that dangerous. Indeed, these crimes are committed without the use of weapons or threats of physical violence, but it does not mean that they are really harmless.
All kinds of white collar crime are taking place in our community nowadays. With the rapid development of Internet technologies, there is a rapid development of Internet fraud schemes.
For example, online investment scheme is one of the recent ones. Commission on Securities and Exchange Commission on Law Enforcement, and criminal trials indicate that criminals use two basic methods to manipulate essay on white collar crime markets for personal gain. Immediately after that they sell their shares of such companies to get substantial profits before the stock price falls back to its normal low level. All other buyers of the stock, unaware of the falsity of the information, essay on white collar crime, become victims of the scheme as soon as the price falls.
For example, in one federal prosecution in Los Angeles, the defendants purchased shares in a bankrupt company NEI Webworld, Inc.
for the sum ofdollars, directly or through an intermediary. Assets of NEI Webworld, Inc. had been liquidated several months before. Then the defendants sent e-mail messages to hundreds of Internet bulletin boards, falsely stating that wireless telecommunications company planned buyout of NEI Webworld.
At the time defendants purchased shares of NEI Webworld, share price ranged from 9 to 13 cents apiece. In another federal case in Los Angeles, a man who worked for California company PairGain Technologies, created a fake website Bloomberg news, which had fake news about the impending PairGain Technologies acquisition by an Israeli company. He sent fraudulent e-mail messages with links to fake Bloomberg news site to financial news bulletins. Corruption, as one of the types of economic crimes, is very common in our society and it slows the development of the country.
In the anti-corruption fight it is recommended to implement legislative reform, which would bring not harsher penalties for corruption, but simplification and reduction of state control reducing the frequency of inspections, tax cuts in order to reduce the very possibility of abuse official position. However, legislative actions of the State can not make a decisive breakthrough in the fight against corruption at least because of the fact that the fight against corruption sometimes is headed by corrupt officials.
Decisive success is only possible by increasing the dependence of the state of citizens. This requires such long-term institutional reform as reducing the essay on white collar crime and size of authorities, creation of special or even independent of the State institutes authorized to investigate allegations of corruption for example, Sweden and some other countries have institution of Ombudsmanintroduction of ethical standards for authorities, etc.
Finally, the fight against corruption is impossible without essay on white collar crime help of whistleblowers. Economists say that successful fight against corruption provides immediate benefits that are many times higher than the related expenses.
General recommendations to fight white collar crime in the community include the following actions by the state:. Fighting white-collar crime essay on white collar crime one of the main problems of modern society. This struggle must be carried out in all possible ways. Since the damage from such crimes is huge, the end justifies any means. According to the FBI, between andwhite-collar crimes amounted 3.
Despite their relatively small number, annual average white-collar crime costs victims much more than ordinary theft or robbery. Many experts expect the growth of this number.
According to National Fraud Center, the number of arrests for white-collar crime, essay on white collar crime, especially fraud and misappropriation of corporate funds, has increased dramatically over the past few years, essay on white collar crime, while the number of arrests for crimes related to violence against the person declines.
White-collar crime is very dangerous. It causes great damage to society and country as a whole and, ultimately, each of us. Today, fight with this type of crime is of utmost importance.
State and federal laws, essay on white collar crime, and the US Constitution give the federal government the authority to curb white-collar crimes. A number of federal agencies, including FBI, essay on white collar crime, Tax and the US Secret Service, US Customs Service, Agency for Environmental Protection, deal with white-collar crimes.
In addition, most states use their agencies to fight white-collar crime. Penalties for white collar crime are very strict, much more severe than for other crimes Waldie, General recommendations to fight white collar crime in the community include the following actions by the state: ensuring political and economic stability in the society creating legal framework necessary for effective fight against economic crimes improving the system of government agencies dealing with economic crimes increasing control of the public authorities for the activities of enterprises, which commit most economic crimes, including the activities of their officers and materially responsible persons strengthening preventive, precautionary actions of authorities fighting with economic crimes in particular, explore conditions that contributed to the commission of crimes and take measures to prevent further similar crimes.
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White Collar Crime
, time: 1:00:31WHITE-COLLAR CRIME essay
· In general, white-collar crime is viewed as a type of nonviolent crime often committed by middle or upper level management and performed as a means to derive financial benefit in professional or commercial circles White-Collar Crime Essay Words5 Pages 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 The National White Collar Crime Center in , defined the term as “illegal or unethical acts that violate fiduciary responsibility or public trust, committed by an individual or organization, usually during the course of legitimate occupational activity, by persons of high or respectable social status for personal or organizational gain” (Helm Kamp et al, , p)
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