Why is white collar crime still prevalent?
White collar crimes refer to crimes that are financially motivated, as well as diplomatic crimes, which are committed for unlawful monetary gain (Israel, 2009). Several experts who carry out white collar crimes are never exposed. The individuals that get caught can face federal or state charges plus felony penalties (Kelly, 2002). White collar crimes are still prevalent in the United States since ordinary white collar cases are still prevalent in the country.
These cases include: bribery, fraud, stock manipulation, securities fraud, embezzlement, computer fraud, Medicaid fraud, extortion, hedge fund fraud, as well as a mortgage broker fraud among others. The crimes also entail money laundering, bribery plus tax evasion (Perskin, 2011). These crimes are carried out with the intention of financial or economical gain. They, however, go unnoticed for years. The crimes are also common since they keep on causing serious issues to taxpayers in America, in surplus of two billion every year.
Is white collar crime acceptable?
White collar crime is a term with no lawful meaning. It is, however, a basic and generic definition that describes clean crime, as opposed to dirty crime (Podgor, 2009). White collar crime is not acceptable. What makes white collar crimes seem acceptable is the fact that it is much harder to seize criminals who are involved in white collar crimes than in blue collar crimes (Strader, 2006). In conclusion, these criminals can escape with a lot of funds for the same endeavor as a normal criminal. It is also hard to seize white collar criminals since their friends are responsible for writing the laws.
References
Israel, J. (2009). White collar crime: Law and practice (American casebooks). Racine, Wisconsin: West Publishing.
Kelly, S. (2002). Understanding white collar crime. San Francisco: Lexis Press.
Perskin, B. (2011). Common White Collar Crimes. New York: HG, Global Legal Resources.
Podgor, E. (2009). White collar crime in a nutshell (In a nutshell).
Racine, Wisconsin: West Publishing.
Strader, J. (2006). Understanding white collar crime. New York: Matthew Bender & Co.
