White Collar Crime Theories: Analytical Essay

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It is not every day we hear about white-collar crimes but these “non-violent” crimes are on the rise. But throughout the years the federal government has been recording and documenting white collar crimes amounting to a staggering $300 billion every year (Cornell University, 2010. White-collar crime is dated back ​with different forms of bribery and embezzlement or even monopolistic price-fixing surely outdated recorded history, the earliest documented case of white-collar crime law dates back to the early 15th century in England​.

This paper about white-collar crime explores the issues we face with white-collar crimes. The growing issue we face in America the unfairness of someone of color would face if they committed the same act of violence versus someone who is America’s worthie (Caucasian) this paper includes is including government corporation This paper gives a rundown of these issues and opinions and discusses one by one thoroughly. By researching the nature of this paper I aim to bring front the roots and history of this controversial branch of the law and judicial system. That shows its specific cases throughout the years, from its conceptualization, formal introduction, and inclusion in the

unfair laws. Moreover, it looks closely at the specific types of white-collar crimes, taking into account their scope, grounds, sanction for the offenders with details about the current judicial system. Lastly, I will discuss specific cases that give white-collar crime popularity and attention from people of the law, the media, and the public. ​ ​White-collar crime can describe a wide variety of crimes committed in America and across the globe. They typically involve crime committed through deceit and motivated by financial gain. The most common white-collar crimes types are fraud, embezzlement, money laundering, also tax evasion. Many other types of scams and frauds are in white-collar crime including Ponzi schemes and securities fraud such as insider trading and property sell out. More common crimes such as insurance fraud and tax evasion are more common with rich corporate communities. These types of crimes are important because of the enormous financial, physical and social damage on individuals, communities, and society who are less knowledgable and understanding the predicament they face when it is introduced to a scheme. Due to its high priority special characteristics and the techniques by which they are committed, they pose significant problems for law enforcement agencies and regulatory bodies around the world who have an interested in controlling them because of the widespread and keep growing.

A crime is described as an action or failure to act, which results in an injury to a person and is sanctioned by A state. They are also known as offenses. These are happenings that are forbidden by law and punishable if committed. In contrast to civil wrongdoing, A state has an interest in crimes in order to protect the public from its actions. Considered to be highly wrongs to the degree in both personal injuries in which

the offense is committed against an individual as in murderous actons or assault of any kind and corporate injuries like fraud, or money laundering and counterfeiting, which are also known as white-collar crimes. Most frauds such as counterfeiting and money laundering do have some similarities and differences.

Both fraud and counterfeit are alike. While fraud is an act of offense a person willfully and with the intent to deceive another person such as if that person was to take their property or money or make them act in a particular manner, which they would not if the truth was disclosed that property and assets. On the other hand, a counterfeit is an act of producing materials or items which are not original in nature. As such, both crimes have a nature of deceit attached to it. For example, a fraudulent activity of selling a piece of property that does not belong to the seller is a white-collar crime. While the buyer is unaware of the ownership of that property to be sold, he is defrauded of his money while the real owner is taken advantage of his property. An act of producing an item such as a cosmetic product using the name, logo, and design of an existing company without there permission with the intent of copying the brand and passing it on as original one is a crime.Such as buying an item from the store and rebranding it to its natural origin. The buyers of the product are unlikely to know the differences. As a result, they are misled into buying the wrong items.

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On the other hand, there a difference between these law breakings. Fraud takes place in the form of exchanging property mostly money. The person who is committing the fraud either makes an untrue statement or representation, which is relied upon by

another to change its position, form a contract or any other party agreement, and give a consideration for the same fraud. In counterfeit, an actual object is made through processing, manufacturing, writing, or in other forms depending on how fast or cheap to make that item which then produces an object. It is these objects that are used to acquire wealth from others. The rates at which financial crimes, computer crimes, property theft, fraud, and counterfeiting occur which is the main crime committed.

Money laundering is another form of financial crime, which accounts for an average of 3.5% of the global gross domestic products (Price Water Coopers, 2016). Computer hacking through fishing emails is a computer crime experienced at a rate of 97.25% in the last third quarter of the year 2016 (Gammons, 2017). Property theft, fraud, and counterfeit account for more than fifty percent of crimes in both America and the globe (Tcherni, Davies, Lopez, & Lizotte, 2016). Property theft such as stealing of company documents rather its corporate or governmental or products by employees or unauthorized persons deprives the business entities their rightful ownership. Still, fraud and counterfeiting lead to both loss of property and profits.

White-collar crimes are committed by individuals’ decisions​ ​in the corporate world. The individuals who perpetrate them have a common end result they want to achieve duping people and corporates to acquire money in illegal ways. This is the case with fraud and counterfeit offenses. Money is lost through vicious intent means. Nonetheless, states put down laws governing these malpractices to punish the offenders and protect the general public from the harm that often occurs​ whether its

influence, whether in democracies such as what we’re facing now with our government or under any form of government form is more or less subjective. Decisions are based on personal interpretation of a set of factors such as inferences from admissible evidence, meaning, and intent of laws and regulations, or probable influence on professional career opportunities.

In conclusion, ​This paper has highlighted how white-collar crime is real and happening every day and as we speak.. Evidence from the research, from media entertainment, newspaper, etc it indicates that as compared to other crimes, white-collar crimes are the most significant in our financial losses which highly contributes to America’s debt. White-collar crimes are known as injury, disease, and death caused to the public. Numerous types of white-collar crimes exist, and they are increasing in number. In contrast to other types of crimes that are declining in incidence. The crimes occur in a wide range from institutions, organizations including business, the medical field, government, religious organizations. Of all the types of white-collar crimes, consumer fraud is the most prevalent which happens in stock markets and even our workplace. With extremely higher profits made on substandard or dangerous products. Corporate irresponsibility resulting in environmental offenses impacts on health and safety are other major areas of white-collar crime. Various laws are enforced by federal administrative departments and agencies to check for the white-collar crime committed. The economic, environmental and human consequences of the crime are inestimable.

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