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Example research essay topic: White Collar Crime Collar Crimes - 1,980 words

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Memo of Transmittal Dear Enclosed please find my report on White-collar Crime. The various aspects associated with white-collar crime and discussed in the report include origin of the phrase, definitions as well as distinctions between white-collar and blue-collar crime and the synonymity it has with crimes of other types. I have also endeavored to recommend suitable measures that can act as effective deterrents to perpetration of white-collar crimes. In order to effectively transmit the messages of deterrence I have also provided instances of verdicts (leading to exemplary punishments) by the judiciary as well as confessions of a known fraudster.

The information contained in my report has been collected and collated through extensive research in the Internet as also through books, newspapers and magazines. The investigation, evaluation and analysis are entirely based on the scientific perspective acquired from such information. Sincerely, Yong, Lin White-collar Crime 1 White-collar Crime Yong, Lin (Course No) (Instructors Name) (Date Submitted) White-collar Crime Table of Contents Executive Summary Purpose (i) Methods (i) Findings (i) Conclusion (i) Recommendation (ii) Introduction Purpose of the Report 1 Relevant Background 1 Scope 1 Method 2 Findings General 2 Definition 2 White-collar Crimes vis-a-vis Blue-collar Crimes 3 Other Crimes Synonymous with White-collar Crimes 4 Deterrents 5 Confessions of a Fraudster 6 Conclusion 7 References 7 Table 1 5 White-collar Crime Executive Summary Purpose The purpose of this report is to examine various aspects of the white-collar crimes in our contemporary society. Methods Information collected / collated through extensive research in the Internet as well as through books, newspapers and magazines. Investigation, evaluation and analysis wholly based on the scientific perspective acquired from such information.

Findings The report discusses various aspects associated with white-collar crime. Apart from mentioning the origin of the phrase, which is attributed to Professor Edwin Sutherland, the report also brings out the distinctions between white-collar and blue-collar crime as also its synonymity it has with crimes of other types. The finding also attempts to recommend measures to act as an effective deterrent to perpetration of white-collar crimes. Finally it ends with a couple of confessions made by a famous fraudster. Conclusion Sophisticated people falling prey to their temptations for making big time rather illegally. Lure for extra money forces these people to commit white-collar crime. (i) The highly placed perpetrators enjoy differential treatments over street criminals.

Stringent punishment recommended for deterring prospective offenders. Recommendation In order to deter people who appear vulnerable to the temptations, it is recommended that exemplary punishments should be earmarked against charges of whit-collar crimes. (ii) White-collar Crime Introduction Purpose of the Report The purpose of this report is to examine various aspects of the white-collar crimes in our contemporary society. White-collar crime is typically described as financial, economic or corporate crime, often carried out by sophisticated means. The growth of the information age has impacted significantly the manner in which economic crimes are committed, as also their frequency and the difficulty in apprehending the perpetrators. White-collar crimes have the potential to bring about tremendous economic loss for companies, investors, and others affected by the offenders actions. Relevant Background This report has been written to analyze the cause and effect of white-collar crimes.

While doing so, the report has also brought out the major highlights of this kind of crime in relation to other forms of criminal activities. Additionally, the findings of this report have also been used to recommend a possible solution to this problem in the form of a deterrent. Scope This report covers various aspects relating to white-collar crimes. These aspects include the following: Meaning / definition . Comparison with blue-collar and other crimes. Deterrents. 1 Method The information contained herein have been collected and collated by me after extensive research in the Internet as well as through books, newspapers and magazines.

My investigation, evaluation and analysis on the subject of white-collar crimes are wholly based on the scientific perspective on this problem acquired by me from such information. Findings General The expression white-collar crime, phrased by Professor Edwin Sutherland in 1939, implies all types of frauds perpetrated by people in high places in government as well as in business, more often than not in their own sphere of activities. These sophisticated and knowledgeable professionals seem to be adept at organizing frauds, small or big, with such dexterity that it can easily put any diehard criminal to shame. There does not seem to be any specific area that only can be tainted by white-collar crimes. These fraudulent acts can be committed anywhere - whether it is a company, a bank, the stock market, insurance / hedge fund or health care the list is long and can even include online scams taking place on the web as well.

In fact, the whole gamut of white-collar crimes can embrace offences such as forgery, bribery, embezzlement, insider trading and computer crimes. Definitions Professor Sutherland, who had christened incorporated governance as white-collar crime defines it as a crime committed by a person of respectability and high 2 social status in the course of his occupation. This simple definition implies that the sophisticated white-collar employees are more prone to committing fraudulent acts because of the numerous scopes / opportunities available to them to perpetrate the crime. Federal Bureau of Investigations (FBI) on the other hand, defines white-collar crime as those illegal acts which are characterized by deceit, concealment, or violation by trust and which are not dependent upon the application or threat of physical force or violence (1989, page 30).

This interpretation, however, is not approved in its entirety by many experts because it does not specifically indicate the actual status of the offenders. As a result, the law enforcement authorities find it rather difficult to collect adequate information on the socio-economic standing of such people. While the definitions of white-collar crime can be broadly classified by types of offences, or offenders or by organizational cultures, the primary criminal acts forming part of the crime, however, are typified by treachery, concealment and breach of good faith. White-collar Crimes vis-a-vis Blue-collar Crimes White-collar crimes tend to lay undetected for a longer time in relation to the blue-collar crimes because of the following reasons: Blue-collar crime is invariably more pronounced thereby drawing immediate attention of the law enforcement agencies. On the other hand a white-collar crime offender goes easily unnoticed for a much longer period of time. A blue-collar crime target, more often than not, tends to be more obvious. 3 While a blue-collar crime may involve use of physical force, white-collar crime is more of a manipulative act, almost always planned and committed in a rather suave manner.

The confidentiality attached to white-collar crime-prone areas makes them less obvious than the blue-collar crimes. Another factor that could be highlighted while matching the two types of crimes is the outright differential treatment meted out to each of them by the authorities. The reasons for this can obviously be attributed to the privileges and the standing enjoyed by the white-collar groups in any strata of the society. Other Crimes Synonymous with White-collar Crimes Corporate Crimes. White-collar crime has some common characteristics with the corporate crime in the sense that it is basically a crime against the corporation. On the other hand, corporate crime actually implies the white-collar kind of crime committed by the corporation itself.

State Crime. Bulk of the crimes by the state is obviously perpetrated through its white-collar employees. State-corporate Crime. In the light of the fact that all parleys pertaining to accords / contracts between the state and the corporations are held by the white-collar people from both the sides, the consequential crimes, if any committed, has to be termed as white-collar crimes. 4 Deterrents As stated earlier, the differential treatments in the form of leniency enjoyed by white-collar offenders will always be a boost to other people about to indulge in these sorts of crimes for acquiring undue and unethical gains. Under these conditions what is warranted is to instill a fear of god in the prospective culprits.

This fear factor can really be achieved if white-collar criminals are awarded the stiffest of sentences by the judiciary such as a long stint in a maximum-security prison. Table 1 below shows the sentence awarded to former Enron Chairman Ken Lay, in the famous Enron fraud and conspiracy trial in November 2007. The table pertains to the four bank charges (that were in addition to a horde of other charges) against the top Enron executive. Even though Ken Lay did not live enough to undergo the prison term he died after six weeks of being convicted it can act as a clear signal to other white-collar offenders with regard to the punishment that could be awaiting them.

Table 1: Verdict against Ken Lay Count Charge Maximum Sentence (in years) Verdict 38 Bank fraud (Line of credit agreement) 30 GUILTY 39 False statements to banks (Bank of America) 30 GUILTY 40 False statements to banks (Bank of America) 30 GUILTY 41 False statements to banks (Compass Bank) 30 GUILTY (Houston Chronicle, 2006. Enron Verdict Score Card. ) 5 Confessions of a White-collar Fraudster While discussing about deterrents, it will be interesting for all potential offenders to know as to what exactly certain white-collar offenders feel about the whole episode once they are convicted: In an interview with Melissa Aguilar (Compliance Week, 2006) on May 16, 2006, Sam E. Antar (of the Crazy Eddie fraud fame) stated the following: Corporate America doesnt get it. I was an officer and director of a public corporation. I broke and corrupted the sacred trust that was put upon me by the shareholders, the employees and the vendors and the public. I corrupted the main pillar of the free market system the integrity of our financial statements by committing fraud. " In another interview with John Lawrence (Muleskinner News, 2005) on another occasion in March 2005, the same fraudster (Sam E.

Antar) says: "I am an economic predator. I am going to take advantage of everything that you do. Every bit of acceptance, of implied credibility, I am going to take advantage of and I am going to destroy your careers. I will destroy everything that you " ve built.

I will take advantage of your prejudices. I will take advantage of your niceties and I will use them against you. That's what you have to be careful of. " 6 Conclusion It is apparent that some people at high places in the industry and the government tend to fall prey to their temptations for illegally making big time that is never otherwise due to them. This lure for extra money prompts these sophisticated people to commit a sin that is known as white-collar crime.

Over the years, these unscrupulous acts seemed to have got a unfortunate boost due to the differential treatment favorably meted out to the white-collar offenders over the street (or the blue-collar) criminals. In order to deter people who appear vulnerable to the temptations, it is desirable that exemplary punishments should be earmarked against charges of whit-collar crimes. While there have been instances of stiff punishments in many cases, such as the Enron scandal, there may still be plenty of room to streamline and strengthen the law in a manner that can effectively discourage potential offenders. References U. S. Department of Justice, Federal Bureau of Investigations (1989).

White Collar Crime: A Report to the Public. Washington D. C. : Government Printing Office. 2. Wikimedia Foundation, Inc. (November 2007). Wikipedia: White-collar Crime. Retrieved 04 December 2007, from web 3.

Houston Chronicle (November 2006). Enron Verdict Score Card. Retrieved 04 December from 7 web 4. Aguilar, Melissa ( (May 2006). Compliance Week. A former Fraudster Speaks Out About White Collar Fraud: Lessons to be learned from the Crazy Eddie Fraud 5.

Lawrence, John (March 2005). Muleskinner News: Famous Fraudster Visits Central. 8


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Research essay sample on White Collar Crime Collar Crimes

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