The Frequency of Corporate Crime in the United States

The Frequency of Corporate Crime in the United States

Introduction

In this study, the significance is shown towards the subject of corporate crime particularly in the United States and the frequency through which it takes place. Over here the different theories will also be covered that are a part of corporate crime that will asses in comparing and contrasting the problems the lie under the corporate crime. The corporate crime that is also known as the white-collar crime could be dated back to the year 1939. This particular term was first coined by Edwin H. Sutherland while addressing towards the “American Sociological Society in Philadelphia” for making efforts towards determining the different kinds of crime as well as the street crime. He was looking towards offering his research in the upper class crimes. Most of the criminological theories and research have been showing that the crime was related towards and also held the higher incidence throughout the lower socio-economical levels. However, in the present the regular public are increasingly concerned regarding the quality of life than ever before that we are living today, the safety of the products used, the air we are breathing, the water we are drinking as well as the security of our stock and savings portfolios for the purpose of retirement, the individuals are observed to be more fearful on being the victim of the dreadful predatory act. Political agendas, public outcry and hence the thrust of the system of criminal justice pays attention over the correction, apprehension and detection of the ones involved within the “crime on streets” relatively than the ones that are involved within the “crime in the suites”.

Discussion

Along with the usual barrage of the media reporting over the current corporate scandals from the allegations of the fraud for the purpose of selling subprime mortgages towards collecting the evidence of common corruption in number of most admired and respected multinational corporations; it is just not natural towards thinking regarding being in the center of the unprecedented wave of the corporate and white-collar crime. Keeping the anecdotal evidence beside, there is no empirical evidence regarding much that if anything have been modifying. Not surprisingly the politicians have been holding back the opportunities for calling over the corporate reforms within the light of around everyday accusations of the illegalities. One of the press releases emerging from the White House, regarding the act that “make sure justice for the wrongdoers as well as protecting the interest of the shareholders and workers.

Within this bills that works towards improving the transparency and quality of the accounting services, independent audits and financial reporting for the public organizations. Creating the public organizations accounting over sight board for enforcing professional competence, ethics and standards for the profession of accounting; acting towards strengthening the independence of the firms that are auditing the public organizations; increasing the corporate responsibilities as well as the usefulness of the corporate financial disclosure; increasing the penalties for the corporate wrongdoers; ...