Annotated Bibliography

1) Introduction

a) Definition

These kind of criminal acts do not depict your typical crime scene scenario and are carried out by the rich and powerful causing economic and financial disaster to the public at large through the use of deceit and persuasion.

b) Purpose of the study

White collar crimes have been documented since time immemorial and present the basis of my research paper. I will tackle the issue that surrounds increasing cases of white collar crimes despite the devastating effects witnessed in the past (Forti and Visconti 2007). A section of the paper covers practices that we can employ to mitigate the rising cases of these non-violent crimes as they are popularly known.

c) Hypothesis

White collar crime is fast gaining popularity and if something is not done to quickly control this menace we might have an uncontrollable problem on our hands.

d) Scope and Limitations

In the research for this paper we will take into account records of past white collar crimes encompassing but not limited to false advertising, patent abuse, fraud and intellectual property theft (Sutherland, 1940).

2) Body

a) Factors contributing to an increase in white collar crimes

The non-violent nature of these crimes results in majority of the cases being handled in a casual manner by both law enforcement agents and society at large unlike other crimes such as murder or burglary. The status of the offender most usually overshadows the unique nature of the crime committed (Geis, 2007).

In the course of the research it was evident that violent crimes are prioritized over white collar crimes in terms of police resources and trained personnel available to track down such cases.

The penalties associated with white collar crimes do not deter the malpractice and are lenient to say the least. Violent crimes attract long jail terms while white collar crimes will get you fined or under probation. With the financial muscle to hire top lawyers, these individuals can easily buy their freedom.

Fraudsters also take the advantage of jurisdictional limitations to carry out these crimes across borders on a large scale. Processing such a case is costly both financially and in terms of time.

b) Solutions to white collar crimes

There exists a lack of accountability when it comes to who can gain access to any desired information at any specified time due to the large number of facilities involved in the collection of data. A centralized system of retrieving disseminating information is a step in the right direction in fighting white collar crimes.

A law enforcement officer is only as good as his/her training and therefore it is paramount that more officers are recruited and trained in investigating these kinds of fraudulent activities.

The cost to the state that results from white collar crimes is much higher compared to what violent crimes cost the state (Senate Permanent Subcommittee, 1979). In the early 1980s this cost was estimated at $50 billion compared to $10 billion incurred from violent crimes. An established department primarily dealing with white collar crimes should therefore be setup to deal with the cases on a full time basis. Inter-agency rivalries that sabotage investigations will no longer be an issue.

3) Conclusion

As a parting shot, before making any investment, exercise due diligence in establishing the history and reputation of the firm offering the opportunity so as not to add on to an already increasing problem in our society i.e. white collar crimes. Making quick money is not sustainable in the long run

References

Friedrichs, D. (2009). Trusted criminals: White collar crime in contemporary society. Cengage Learning.

Crime Types 6.2 Edelhertz’s (1970) Typology of White Collar Crime (pp.213-230)

Croall, Hazel, 1947– Understanding white collar crime / Hazel Croal