Punishment For White Collar Crimes Essay - 1533 Words

â€Å"In a country that prides itself on transparency, accountability and the rule of law, corporate justice cannot be allowed to continue to consist of coercion behind closed doors† (Smith and Howat 109). White-collar crimes are explained in â€Å"White-collar crime† as, price fixing, false advertisement, and wiring and tampering with accounts belonging to anyone other than, in this case, the criminal (Levenson). With the advancements in technology and increase in satellite towers breaching financial accounts or even obtaining financial information has become effortless. Criminals commit the crime to improve their social status. These crimes do not include physically harmed victims; however, they do include victims that are affected through a different nature. They are different, because victims not only lose trust within the corporation, they also lose out on a valued product. Victims may inquire restitution, but it is not always prominent that will make matters right for them. Punishment for white-collar crimes affects the corporations social status, how the corporation can continue to manufacture after the crime, and how companies plan to go about restitution for victims. Crimes do not normally go without punishment, the punishment just does not seem as substantial for corporate crimes. Many corporate crimes go without public recognition. The public should be allowed access to all crimes that may affect the economy or even individuals, so they can have a better understanding ofShow MoreRelatedWhite Collar Crime: The Effects and Punishments5087 Words   |  21 PagesWhite Collar crime has been a hot topic since the 20th century. Edwin Sutherland introduced the term at the fourth annual meeting of the Sociological Association. At this meeting he explained who this type of criminal is and what the criminal does for a living. Sutherland developed a theory to try and fit this type of criminal. The theory is differential association. There are four different pieces of evidence to understand the theory. White collar crime ranges from Embezzlement to Mortgage FraudRead MoreEssay on White-Collar Crime Vs. Street Crime1070 Words   |  5 Pageswith crimes th at are considered street crimes. What most people don’t hear about on the news is what is considered white-collar crime, sometimes known as corporate crime. White-collar crime not only is less reported in the media but also receives weaker punishments than street crime. This paper will first discuss the similarities between the two types of crime and then explain why their punishments are strongly different. Lets first start off by defining each one of these types of crime. StreetRead MoreWhite Collar Crime Is A Serious Issue Essay1124 Words   |  5 PagesWhite collar crime is a serious issue in the United States. White-collar crime is â€Å"a crime committed by a person of respectability and high social status in the course of his occupation† (cornell.edu). Examples of such offenses include bribery, credit card fraud, insurance fraud, bank fraud, blackmail, extortion, forgery, securities fraud, tax evasion, embezzlement, repair scams, Ponzi and pyramid schemes. These non-violent crimes are responsible for an estimated $250 billion to $1 trillion inRead MorePenalties for White Collar Crime Essay1101 Words   |  5 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. 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There are special rules and special laws for certain people especially when it comes to crime and punishment. Everyone is not created equal. Society looks up to the wealthy and frownRead MoreExercise 3: White Collar Crime. In A Looking Glass Of A1448 Words   |  6 PagesExercise 3: White Collar Crime In a looking glass of a sociologist, we can see white collar crime in our everyday world. When it presents itself; the victims are left hurt and the rest in awe of their awful actions. White Collar Crime is defined as â€Å"White collar crime overlaps with corporate crime because the opportunity for fraud, bribery, insider trading, embezzlement, computer crime, and forgery is more available to white-collar employees.† stated by James Henslin. White Collar Crime can be seenRead MoreAdelphia: Lying, Cheating, and Stealing920 Words   |  4 PagesLying, Cheating and Stealing Lying, Cheating and Stealing White collar crime is not a victimless crime. People’s lives can be ruined through the loss of a job, loss of savings and loss of assets. It is hard to not hear about white collar crime when looking at news. While not a justification for illegal actions, pressure is very high for companies to perform well and show growth. This pressure can lead people to commit crimes to falsify results or to enrich themselves. Laws and regulationRead MoreA White Collar Criminal s Social Position Should Not Determine The Length, Term And Type Of Punishment1522 Words   |  7 PagesInformation Should Set You Free A white-collar criminal’s social position should not determine the length, term and type of punishment. The circumstance and type of white-collar crime should influence state and federal officials on the punishment. Some high profile crimes have been thoroughly planned and taken years or decades to execute. More than likely, the people that have planned and executed these crimes can detect the patterns and signs of similar crimes when presented with information orRead MorePolice Corruption within XYZ Organization Essay1076 Words   |  5 Pagescontributor to crime, personal decision. By utilizing a blend of the two, I think we are able to see how personal choice and the ramifications of those choices are directly related to each other. The deterrence theory focuses on what deters criminals from making the overt act, while the self-control theory defines what a criminal looks like who does in fact follow through on the act. This two-prong approach provides an answer for both a proactive and reactive response to white-collar crime in general