White-Collar Crimes

Running head : WHITE COLLAR CRIME

White Collar Crime

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White collar crime

White collar crime refers to crime that is nonviolent which id committed for financial benefits within commercial situations (Sutherland , 1949 The phrase was coined by Edwin Sutherland during a speech addressing the American Sociological Society in 1939 where he defined the phrase as a crime that is committed by a person who is of a high social class and therefore respectable during the course of his occupation . The phrase has also been defined

as the abuse of a lawful occupational responsibility which has been regulated by law (Croall , 2001 . In the United States alone , white collar crime has been found to cost the American economy an excess of 300 billion per annum

White collar crime has been found to overlap with corporate crime since most of the opportunities to carryout such a crime are more available to individuals who may be professional working in corporations and belong to the high class of people in society . Examples of white collar crimes include fraud , embezzlement , identity theft , insider trading , bribery antitrust violations , money laundering , computer crime , counterfeiting and economic espionage

Sutherland came up with the term during his study of the connection between crime and the high society with the goal of proving a relation between social status , money , and the probability of going to jail due to a while collar crime (Friedrichs , 2003 . This was as a result of the increase in individuals of high social...