Offender’s commit fraudulent acts in the course of normal business practice, but is considered unethical and violates accepted accounting principles and mainly public trust. To help better understand the issue the essay will explain several incidents which are involved with white collar crime and how it hurts many individuals from families to businesses. Even though white-collar crime offender’s gain an increase in salary and may go unnoticed, the criminal justice system should continue to take a stance on white collar crime. Because mainly white collar crime is a serious invincible crime, laws that regulate white collar crimes are necessary, and impacts society's way of life. Additionally, a proposed suggestion will be presented to counter the identified problems and conclude final thoughts on white-collar crime.
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This paper does not go as far to say that imitation is a tautology for the cause of criminal behavior; rather, merely that it is the most important factor of criminal behavior. With so many crimes occurring around the globe, the question remains: where does criminal behaviour stem from? Some say it is how a person is brought up, while others believe it is caused by peer influence. Though these two conditions certainly can lead to extremes in behavior, most unlawful acts stem from imitation. For example, if a person saw a crime being committed, and they believed that the act was rewarding in some manner to themselves if they were to perform it, they would act on it.
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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.
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White-Collar Crime. Retrieved from Dec 27th, http://www.fbi.gov/about-us/investigate/white_collar Prial, D. (Dec 24, 2013). American Express Units Settle Charges Over Deceptive Practices. Retrieved for this paper Dec 27th, http://www.foxbusiness.com/industries/2013/12/24/american-express-units-settle-charges-over-deceptive-practices/
4.0 Conclusion After a case like Enron, it is easy to be pessimistic about the prospects for change that could effectively prevent corporate crime. The ideas presented in this paper suggest that regulatory agencies can play a fundamental role not only in encouraging compliance with the law, but also deterring corporate crime. It is clear that corporate crime has substantial effects on its victims, yet corporations or their executives are not always held accountable for their actions. Compared to criminal prosecutors, regulators have more knowledge and resources to monitor corporations and potential offenders better understand the penalties associated with regulation. For these reasons, the power of regulatory agencies to monitor business practices should be increased.