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 Thesis Statement – White Collar Crime Essay. White Collar crimes are a disgrace to the judicial system of any nation as they try to trap innocent people by marking them guilty for the crimes not committed by them. Introduction – White Collar Crime Essay. White-collar crimes are the crime that people commit in disguise by taking the benefit of their position White-collar crime is considered to be a highly serious form of crime in the United States, next in significance only to face-to-face violence. According to the U.S. Bureau of Justice Statistics (Barnett, ), it is estimated that in terms of financial loss, white-collar crime impacts the public more adversely than all other forms of crime combined
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 securities 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, 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, essay on white collar crime, 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, essay on white collar crime, 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 essay on white collar crime 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 number 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 the help of whistleblowers. Economists say that successful fight against corruption provides immediate benefits that are many times higher than the related expenses.
Essay on white collar crime recommendations to fight white collar crime in the community include the following actions by the state:. Fighting white-collar crime is 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, especially fraud and misappropriation of corporate funds, has essay on white collar crime dramatically over the past few years, 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, 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 essay on white collar crime 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, essay on white collar crime, 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, essay on white collar crime.
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Strain theory applied to white collar crime
, time: 6:02WHITE-COLLAR CRIME essay
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 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, ). White-collar crimes can occur at any occupational level and affects all parts of society, from big businesses White collar crime should elicit severe penalties in order to protect the masses of people that could be affected by the actions of just a few individuals. The principal of just punishment states that a person who commits a wrongdoing out of negligence deserves a lenient penalty over a person who knowingly commits a crime
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