what are the causes of white collar crime ?
what are the causes of white collar crime？
The motivation behind these crimes is financial—to obtain or avoid losing money, property, or services or to secure a personal or business advantage. These are not victimless crimes.
Correspondingly,What is white-collar crime explain the main causes and effects of white-collar crime?
White-Collar crime is not only committed by the people of high social status in their occupational capacity but also is committed by the people of lower strata. It is an illegal act or series of illegal acts committed by non-physical means and by concealment or guile.
In this regard,What are the characteristics of the white-collar crime?
Three characteristics of white-collar crime are particularly important: (1) The offender has legitimate access to the target or victim of the crime on the basis of an occupational position; (2) the offender is spatially separated from the victim; and (3) the offender's actions have a superficial appearance of legality.
Similarly,What is white-collar crime and how it occurred?
White-collar crime has been associated with the educated and affluent ever since the term was first coined in 1949 by sociologist Edwin Sutherland, who defined it as "crime committed by a person of respectability and high social status in the course of his occupation."2 White-collar workers historically have been the " ...
Furthermore,What makes white-collar crimes different from other types of crimes?
White-Collar Crimes. The difference between white-collar crime and blue-collar crime stems from the different types of criminal activity that the criminal has access to engage in. Blue-collar crime, because of the more limited means of the people committing it, tends to be more straight-on – robbery, burglary, etc.
White-collar crime is also often more difficult to detect than other types of crime, in part because losses may not be immediately apparent to victims but also because the crimes can involve sophisticated schemes and cover-ups. Many white-collar crimes require concerted criminal activity by coconspirators.
White-collar crime can endanger employees through unsafe working conditions, injure consumers because of dangerous products, and cause pollution problems for a community.
Ponzi schemes are perhaps one of the most infamous forms of white-collar crime. Popularized by Charles Ponzi in the 1920s, they involve pocketing investment money rather than actually investing it. The scheme is upheld by paying "returns" to investors with money from the investment pool.
Here are 7 famous white-collar crime cases that shaped history and criminal law.
- Martha Stewart's insider trading. The well-known retailer entrepreneur owned stock in ImClone, a biotech company. ...
- Al Capone's tax evasion. ...
- Enron. ...
- WorldCom. ...
- HealthSouth. ...
- Bernie Madoff. ...
- Marcus Schrenker.
White-collar crime has the potential to be considerably more severe than street crime. Even though street crime is far more violent than white-collar crime, white-collar crime has a more significant economic impact.
White collar crime doesn't just boil down to a murder mystery involving a suit. Rather, white collar crime is non-violent and refers to financial crimes such as fraud, bribery, embezzlement and money laundering, that are committed by businesses and governments.
White collar crimes are the crimes which cause a harm to the economy of the country as a whole. It threatens the country's economy by bank frauds, economic thefts, evasion of tax etc. It not only affects the financial status of a country or a person but It has also a negative impact on the society.
Typically white collar crimes are prosecuted in federal court because usually the nature of the crime is that it crosses state lines. It is easier for federal agencies to prosecute them. Sometimes they involve alleged theft from government agencies, so they are more typically brought in federal court.