White Collar Crime

Introduction

This paper is about white collar crime. Whether it is popular to acknowledge or not, Canada is considered a prime target for white collar crime “professionals”. These pro-active crime practitioners relish “doing business” in this country because of; ease of corporate infiltration; lax laws; minimal conviction rates and the blanket protection provided by The Canadian Charter (Friedrichs, 98). Additionally, the cost to a corporation to prosecute someone in order to capture losses is quite high. Most white collar crime is opportunistic and need-driven, there is another kind of white collar crime; that which is carried out by people one might call “professionals” (Podgor, 36). These are the folks who are not merely opportunistic. Rather, they are proactive, a person who, from inside your organization, is actively attempting to find a way to cheat you every day. These people are the psychopaths, people who have no conscience and wake up every day of their lives with the firm belief that their only job in life is to cheat you out of as much as they can through fraud, embezzlement and every other means they can think of. Their view of life is that you are trying to do the same thing to them so they are going to “get” you first. (Friedrichs, 136). They are relentless, and there are more of them running around than you might think.

Cases

Article 1

White-collar crime: the crime committed in the professional field and in the business world. Crime by professional denotes offenses against legitimate institutions (the private sector or the government) by the socially "respectable". This crime involves the misuse of funds in private enterprise, tax evasion, computer crime and fraud-related expense accounts. A survey done by Price Waterhouse Coopers (PWC) confirms that white collar crime is quite prevalent. According to their research, in 2009, about 30%, of the more than 3600 companies they studied from around the world, had suffered from fraudulent acts with an average loss of $2 million (Friedrichs, 2009). Having said that, there is no doubt that Canada is clearly surpassing the global percentages by a significant amount. In that same year, about 56% of Canadian corporations reported being victims of serious fraud, and Vancouver might well be a special target. Forbes magazine calls the Vancouver Stock Exchange, now part of the Canadian Venture Exchange, “the scam capital of the world” (ibid).

Article 2

Federal Bureau of Investigation reported that, the America have to endure the cost of white collar crimes exceeding $ 300 billion per year (Podgor, 2007). These felonies are regarded as federal offenses regardless of state and neighborhood law enforcement and might be implicated in cases; allegations will be presented with superior rate by federal agencies.

The consequences for white collar crime in most cases include fine, house arrest, neighborhood imprisonment and every so often locking up. Federal agencies time and again blunder while impeaching these wrongdoers and these errors often breaches the constitutional rights of the people. Therefore, it is advisable to take a lawyer's assistance if a person ...