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Case study and white collar crime
Case study and white collar crime
Case study and white collar crime
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For over 20 years, white collar crime researchers have empirically demonstrated that white collar crime is under-represented in the criminological and criminal justice literature relative to traditional street crimes (McGurrin, Jarrell, Jahn, and Cochrane, 2013; Yeager, 2008; Chibe, 2006; Podgor, 2007; Richman, 2013). Despite overwhelming data demonstrating the, higher injuries, illnesses, and larger economic losses caused by white collar crimes the disciplines of criminology and criminal justice have focused their research on conventional crimes resulting in a sizeable imbalance between white collar and traditional crime representation in the criminological literature (McGurrin, Jarrell, Jahn, and Cochrane, 2013; Maddan, Hartley, Walker, …show more content…
It is necessary to work constantly on the formation, training and specialization of personnel who will participate in the fight against white collar crime. They must know not only the form under which they manifest crimes, but also the means to prevent them. Drawing up plans that anticipate possible problems, the planning carried out by management to a higher level of functional rather than the same leaders who are usually involved in the implementation of the resulting criminal behavior. Have all managers and employees work with a clear understanding of the overall strategic direction of the police organization at different levels. Another form to reduce white collar crime is with an assessment of threat of white collar crime, create an organization of the police participation in the prevention, working out a system of reporting white collar offenses and deterring a structure for the prosecution in the case of white collar (Jašarević, 2015; McGurrin, Jarrell, Jahn, and Cochrane, 2013; Engdahl, 2009). Having these polices figured out will be a deterrent factor for individuals. Many individuals who become involved in white collar crime rely on the low chance of the being caught. With these polices the likely hood of the being caught will rise, individuals will be more aware of their consequences if they become involved in criminal
John Jacob Jingleheimer Schmidt was a Harvard graduate, Founder of a hedge fund, CEO and portfolio manager of International Management Associates LLC. John Jacob Jingleheimer Schmidt swindles millions of dollars from his clients. IMA collapsed in 2006, when Jingleheimer Schmidt wrote bad checks to his client and investor NFL football players. John Jacob Jingleheimer Schmidt was charged with security fraud and money laundering. John Jacob Jingleheimer Schmidt was looking to served jail sentence of approximately 710 years when he grew a flower in his jail cell. (AJC News)
White-collar crime is the financially motivated illegal acts that are committed by the middle and upper class through their legitimate business or government activities. This form of crime was first coined by Edwin Sutherland in 1939 as “a crime committed by a person of respectability and high social status in the course of his occupation.” (Linden, 2016). Crime has often been associated with the lower class due to economic reasons. However, Sutherland stressed that the Criminal Justice System needed to acknowledge illegal business activity as crime due to the repercussions they caused and the damage they can cause to society (Linden, 2016). Crime was prevalently thought to only be
2 Companies are exposed to crimes either from the inside, or the outside. White-collar crime is a complication; harming companies in our society, which costs millions. An example of a white-collar crime would be the Ford Pinto case. When gas prices were rising in the United States, people started to search for economical cars.
Today, worldwide, there are several thousands of crimes being committed. Some don’t necessarily require a lethal weapon but are associated with various types of sophisticated fraud, this also known as a white-collar crime. These crimes involve a few different methods that take place within a business setting. While ethical business practices add money to the bottom line, unethical practices are ultimately leading to business failure and impacting the U.S. financially.
White collar and corporate crimes are crimes that many people do not associate with criminal activity. Yet the cost to the country due to corporate and white collar crime far exceeds that of “street” crime and benefit fraud. White collar and corporate crimes refer to crimes that take place within a business or institution and include everything from Tax fraud to health and safety breaches.
There are different principles that makeup the crime control model. For example, guilt implied, legal controls minimal, system designed to aid police, and Crime fighting is key. However one fundamental principle that has been noted is that ‘the repression of criminal conduct is by far the most important function to be performed by the criminal processes’. (Packer, 1998, p. 4). This is very important, because it gives individuals a sense of safety. Without this claim the public trust within the criminal justice process would be very little. The general belief of the public is that those that are seen as a threat to society, as well as those that fails to conform to society norms and values should be separated from the rest of society, from individuals who choose to participate fully in society. Consequently, the crime control model pro...
Shover, N, & Hochstetler, A. (2006). Choosing white-collar crime. New York, NY: Cambridge University Press.
White collar crimes do not garner as much media attention as that of violent crimes (Trahan, Marquart, & Mullings 2005). This is an odd fact because white collar crimes cost society much more than violent crimes do (Messner & Rosenfeld 2007). While there are many different definitions for white collar crime, Schoepfer and Piquero describe it as a nonphysical crime that is used to either obtain goods or to prevent goods from being taken (2006). People who commit these crimes are looking for personal or some sort of organizational gain and are being pressured to be economically successful from the idea of the American dream. The authors suggest that there are two types of people who commit crimes, those who have an immense desire for control and those who fear losing all they have worked hard for (Schopfer & Piquero 2006). Both groups have different reasons for turning to crime, but both groups commit the crime to benefit themselves. It was found that higher levels of high school drop outs were directly correlated to levels of embezzlement in white collar crime (2006). Because they are drop outs, they are less likely to be successful legitimately and turn to crime more often than their graduate
1. Reiman explains that the idea that white collar crime is taken less seriously is because it protects the elite classes. For example, if the public believes they should fear the poor more than the rich, the rich can commit more crimes and go unnoticed because the population is focused on the poor Reiman explains that that the way crime is explained does not exactly fit what we think crime is. He explains that the notion that white-collar crime being harmless is based on the idea that white collar crimes do not end in injury or death is false because more people’s lives are put at risk than “lower class” crimes. Reinman thinks it is necessary to re- educate the public on white-collar crimes for economic
Imagine working over thirty-five years with a successful company; faithfully contributing to your own retirement. Only to find out those two weeks prior to your first retirement vacation your account has been depleted. This crime is known as white-collar crime. White collar crime was coined in 1939, by a man named Edwin Sutherland. Sutherland defines white collar crime to be a crime committed by the perpetrator during the course of his or her occupation( S. Rosoff, H. Pontell, R. Tillman). White collar crime is happening every day. In general terms, non-violent crimes for financial gain were stated in this subject as well. White collar crime is what many in society fail to express as other would if it was street crime. If society as whole were to become more knowledgeable and understanding of the magnitude behind white collar crime, then they too would realize and immediate affect behind a violent act is not more harmful than one such as white collar. White collar crime which often time take affect years
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...
The foundation of our country, the keystone to our democratic system, is the integrity of social institutions that we not only assume we can trust but have come to rely on for most aspects in our daily lives. The integrity of these social institutions can only be achieved through building blocks such as internal controls and independent, verifiable information. White collar criminals build a sense of false integrity around them in order to gain the trust of their victims, ranging from the young to the very old. Friedrich’s (2010) Trusted Criminals defines the foundation to white collar crime, the level of trust we have for those in power. We trust those in charge, those with power, and those who represent the integrity of our social institutions.
In the twentieth century, White Collar and Organized Crimes have attracted the attention of the U.S. Criminal Justice System due to the greater cost to society than most normal street crime. Even with the new attention by the Criminal Justice System, both are still pretty unknown to the general public. Although we know it occurs, due to the lack of coverage and information, society does not realize the extent of these crimes or the impact. White Collar and Organized is generally crime committed by someone that is considered respectable and has a high social status. The crimes committed usually consist of fraud, insider trading, bribery, embezzlement, money laundering, identity theft or forgery. One person would not normally commit all of these but likely one or the other.
Imagine losing your retirement funds or being a victim of a mortgage fraud because money from your bank account disappeared overnight! The 1996 report of the National Criminal Justice Commission estimated that the annual cost of white-collar crime is between $130 billion and $472 billion, seven to twenty-five times greater than the cost of conventional or street crime (Conklin, 2010, P. 71). White-collar crime in America is considered larceny committed by the wealthy, respected, and legitimate enterprise which is not set up or intended to go out of business like an ordinary fraud or con game. White-collar crime offenses may involve forgery, embezzlement, or fraud involving massive amounts of money. 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. At the end of the day the goal to continue law regulations against white collar crime while maintaining public protection will be the driving emphasis behind this essay.
Fraud and white-collar crime are common forms of crimes that people commit in various aspects and positions in the corporate world. Fraud and white-collar crimes have similar meaning as they refer to the non-violent crimes that people commit with the basic objective of gaining money using illegal means. The cases of white-collar crimes have been increasing exponentially in the 21st century due to the advent of technology because fraudsters apply technological tools in cheating, swindling, embezzling, and defrauding people or organizations. White-collar crime is a complex issue in society because its occurrence is dependent on many factors such as organizational structure, organization culture, and personality traits. Thus, the literature review examines how organizational structure, organizational culture, and personality traits contribute to the occurrence of white-collar crimes.