Penalties for White Collar Crime

1100 Words3 Pages

White collar crime has been discussed more frequently in the last few years. The news has made society aware that white collar crime occurs almost as often as other criminal activity. In fact, white collar crime is one of the most costly crimes. It is a billion dollar criminal industry. White collar criminals seem to continue to engage in the criminal practices because there is no set standard in the penalties given to those that are caught. A look into the public’s perception on whether the penalties given is harsh enough for white collar criminals since most types of crimes have a set of standard penalties for those convicted. A standard set of penalties needs to be looked at for white collar crimes to help in eliminating the criminal behavior and saving society billions of dollars a year.
Perception of Penalties
White collar crime is viewed as non-violent and treated differently than other types of crimes; some that are even violent in nature. In general, personal and public perception can vary from one individual to another. “A recent survey conducted by the National White Collar Crime Center (NWCCC) confirm that the public considers certain white collar crimes as more serious than some street crimes, according to Drs. Marilyn Price and Donna Norris” (Perri, J.D., CFE, CPA, 2011, p. 23). Even though white collar crimes do not seem a violent as someone that commits murder; there is still major damage done. For example, a fraud victim goes through a lot of hardship. They can be harassed, have their identity stolen and lose everything. This in many cases can be looked at as a severe crime. Valuables taken during a burglary can be replaced easily, but someone’s identity and livelihood cannot be given back. Most white...

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...o disappear and tougher penalties need to be designed to handle white collar criminals. Without this white collar crime will continue and society will no longer be able to trust anyone with their finances. In turn, the economy will decline.

Reference

Henning, P. (2013, February 25). The challenge of sentencing white-collar defendants. New York Times. Retrieved from http://dealbook.nytimes.com/2013/02/25/the-challenge-of-sentencing-white-collar-defendants

Perri, J.D., CFE, CPA, F. (2011, January/February). White-collar crime punishment too much or not enough?. FRAUDMAGAZINE, Retrieved from http://www.all-about-forensic-science.com/support-files/white-collar-crime-punishment.pdf

Sentences for white-collar criminals: Too harsh or too lenient. (2012, June 8). Retrieved fromhttp://www.forbes.com/sites/investopedia/2012/06/08/sentences-for-white-collar-criminals

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