The White Collar Crime And Economic Crimes - 2126 Words

In India, the Law Commission in its 29th Report pointed out more or less the same factors as responsible for the rise of economic crimes, particularly, the white collar crimes. It observed, â€Å"The advance of technological and scientific development is contributing to the emergence of mass society, with a large rank and file and small controlling elite, encouraging the growth of monopolies, the rise of managerial class and intricate institutional mechanisms. Strict adherence to a high standard of ethical behavior is necessary for the event and honest functioning of the new social, political and economic processes. The inability of all sections of society to appreciate in full this need results in the emergence of growth of white collar crime and economic crimes. Steps taken to deal with the problem of Corporate Crimes In various countries various steps have been taken of enacting suitable laws to deal with the problem of corporate crimes. The steps include the legislative, administrative and executive measures. For example, in United States, the Sherman Anti Trust Act of 1890was one of the most important legislative enactments to deal with the financial problems created by the business and economic organizations. The American Congress had passed this Act to limit effectively the exercise of monopolies. The Act prohibited any contract, conspiracy or combination of business interests in restraint of foreign or interest trade. This legislation was followed by the Clayton AntiShow MoreRelatedThe And White Collar Crime897 Words   |  4 Pages1. Literature Review Crimes have been occurring in our society for many years and recently the occurrence of non-violent crimes has increased dramatically. Traditional and white collar crimes have two traits in common, an objective and a modus operandi, but the major difference is that a white collar criminal has a plan and also the ability, knowledge and technology to execute it (Nevis, 2012). White-collar crimes can occur at any occupational level and affects all parts of society, from big businessesRead MoreWhite Collar Crimes And Street Crimes1431 Words   |  6 PagesCrimes are one of the many things that all humans have in common. Whether it be a serious crime or not, everyone can commit a crime and go to jail for it. There are two types of crime that can be considered complete opposites of each other. They are white collar crimes and street crimes. White collar crimes are considered nonviolent crimes committed by a person of respectability and high social status in the course of his/her occupation such as fraud, embezzlement, or bribery. On the other hand,Read 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 off enses 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 MoreWhite Collar Crime Theories, Laws, and Processes785 Words   |  3 PagesWhite Collar Crime Theories, Laws, and Processes Name Tutor Course Title Date Submitted White Collar Crime Theories, Laws, and Processes: The term white collar crime was first introduced by Edwin Sutherland, a criminologist and sociologist, in 1939. 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The book proposes a peaceable way of dealing with offenders in a manner that accords respect to human rights. Further, Gesualdi notes that the criminal justice system is concentrated on inflicting harm on the offenders by punishing them. He argues that the system is fixated on the notion of reacting to crime rather than prevention. Hence, the book proposes an approach where restorative justice and prevention of crime can be accommodated in the criminalRead MoreEss ay on White Collar Crime and Corporate Crime1509 Words   |  7 PagesWhite Collar crime is not a crime unto it self, but instead a criteria that has to be met in order for a crime to be considered as White- Collar Crime; (Blount, 2002) hence the reason why Corporate Crime is also considered as White- Collar Crime. At the same time, White Collar Crime and Corporate Crime can be seen as distinct criminological categories, however, in order to reveal this, this essay will firstly be exploring Sutherlands definition of white collar crime and the perplexity with thisRead 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 MoreWhite Collar Crimes And Street Crimes1083 Words   |  5 PagesWhite-collar crimes are just as prevalent today as ordinary street crimes. Studies show that criminal acts committed by white-collar criminals continue to increase due to unforeseen opportunities presented in the corporate world, but these crimes are often overlooked or minimally publicized in reference to criminal acts on the street. Many street crimes are viewed as unnecessary, horrendous crimes because they are committed by lower cla ss citizens, whereas white collar crimes are illegal acts committedRead MoreThe City Of Wortropolis Faced An Economic Recession996 Words   |  4 Pagesfaced an economic recession between 1980-2000. Wortropolis was a city that thrived from 1950-1980 with an economy based on large-scale manufacturing. The unemployment rate was 3% and the majority of residents owned their homes. In 1980 the city was hit with corporate frauds and illegal investment practices which lead to the collapse of the banking sector. The banking sector collapse lead to the economic recession. The recession caused problems of increased poverty, social inequality, and crime. Between