White Collar Criminals In Canada

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of a lower social standing, white collar criminals are typically from a high social standing and commit crime related to their occupations. Edwin Sutherland was the first to propose this idea opposing traditional beliefs that criminals were from the lower class and mentally inferior, Sutherland rather suggested that criminals could be intelligent and respectable people (Puri and Kupi, 2015).

In the United States the law defines embezzlement as a specific offence, this is unlike Canadian law which categorizes embezzlement as being a form of fraud or theft. This may be one of the reasons why Canada is referred to as a haven for white collar criminals, due to the lack of enforcement and the overall more relaxed attitude, compared to that of …show more content…

The results show that when comparing annual arrests regarding white collar crimes there is a general decrease in arrests in casino jurisdictions if arrests regarding casinos are not included. This study also assessed the reasons given by white collar criminals for having committed embezzlement or fraud, gambling is seen to be a common factor in many of the cases “a bookkeeper in Buffalo pleaded guilty to stealing $350,000 from her employer by writing checks to herself. She told the police she was trying to cover credit cards debt and gambling losses” (Albanese, Jay S …show more content…

This report defined fraud as directly affecting individual retail investors this includes Ponzi scheme, real estate investment scams and internet fraud.

Police agencies aren't the only regulators that exists to prevent and deter fraud, many organizations exist for this sole purpose (FAIR Canada, 2014, p.2). Despite both agencies working to protect Canadian investors against fraud they don't have framework to allow them to coexist and have an efficient system. The framework to collect, track and report investment fraud complaints is also lacking, with only limited information relating to fraud being published in Canada. Since many investors are not educated on or aware of the existence of such securities regulators that specifically deal with fraud they are more likely to report investment fraud to the police. The problem with this is that in recent year’s securities regulators have published more information dealing with fraud, unlike the police who have not published anything in recent years dealing with investment fraud (FAIR Canada,

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