White Collar Crimes
White-collar crimes are generally defined as financial offenses committed by government employees, officials and business entities in a non-violent manner. I agree that the main purposes of committing these crimes are usually for financial gains by those who commit such crimes. As such, white-collar crimes lead to significant financial loses for firms, companies, employees and investors (White Collar Crimes, n.d). Furthermore, fraud, bribery, extortion, embezzlement, insider trading and public corruption among others are considered as white-collar crimes. Considering the definition, white-collar crimes can be considered either corporate or non-corporate. Corporate crimes involve offenses perpetrated by individuals, employees, the organization itself or business entity mainly for the benefit of an entire organization while non corporate are normally for individual gains such as credit card fraud, extortion, larceny, individual tax evasion, forgery and computer frauds.
Considering the main reasons for perpetration of white-collar crimes, the question then remains how can this issue be addressed? Abuse of power and unlawful running of business monetary transactions by employees for personal gains can be addressed through frequent audit checks. Auditing could be done after every six months by external auditors to ensure that resources and funds are being used effectively. In order to address organizational trust issues, defrauding employees should face heavy convictions if found guilty. This measure would ensure that employees use only lawful means in the running of an organization. For example, a heavy jail term period for Marcum would serve as an example to other fraud individuals. According to Adler et al., (2013) occupational crimes have increased due to diminishing concerns between buyers and sellers. This could be addressed by ensuring that lawful are signed by both contracts before transacting any business.
I believe that crimes are punishable irrespective of the magnitude or perpetrators. Severe punishments to either organizations or individuals who commit white-collar crimes would be significant in addressing this issue. As such, people in authority would not misuse their powers or engage in fraudulent activities.
Adler, F., Mueller, G., & Laufer, W. (2013). Criminology (8th Ed.). New York, NY: McGraw-Hill.
White Collar Crimes. (N.d.) HG.org Legal Resources. Retrieved from: http://www.hg.org/white-collar-crime.html.