![]() In this example of white collar crime, Jeff used “insider information” to give his friends and family an edge, enabling them to obtain company stocks at the previously low rate. Jeff immediately calls family and friends, telling them to buy company stock right away.īy time the product is released, which immediately raises stock values, the company’s stocks have already been bought out. The email stated that the device would be released on a certain day, which had not been announced to the public. One day, while at work, Jeff receives an email that was intended for his boss. Jeff works for a private company that is working on a device that can detect certain serious heart problems. Insider trading is against the law if a securities transaction, which is the sale or purchase of stocks, is engaged in by a person, or small group of people, inside the company, who have special knowledge not available to others. Insider trading is often considered a type of fraud, though many people are surprised to learn that not all insider trading is illegal. In this example of white collar crime, the man who posed as the owner to swindle money out of a prospective tenant has committed fraud. The next week, Joseph went to the apartment to pick up the key, and learned that someone else actually occupied the residence.Īfter doing some investigation, Joseph learned that the apartment was not for rent at all, but that the man he met with and gave the money to was not the property owner. Joseph paid the security deposit and first month’s rent up front. He met with the supposed landlord, toured the apartment, and agreed to rent the apartment by signing a lease. Joseph responded to an ad about an apartment for rent. ![]() The victim believed the statement to be true, relied on the statement, and lost something of value, based on his belief.The perpetrator intentionally made the false statement.The perpetrator made a statement of fact that he knew to be false.The crime of fraud requires four elements: Fraudįraud is committed by misrepresenting facts in order to gain something in return. The most common types of white collar crime are explained below. White collar crimes can often be difficult to prosecute, as the perpetrators take sophisticated steps to ensure their illegal activities are difficult to detect. The most common types of white collar crime include fraud, insider trading, and bribery. The term white collar crime covers a wide array of crimes, but they all involve crimes committed through deceit for the purpose of gaining money or other assets. ![]() The laws concerning white collar crimes vary, depending on the exact nature of the crimes committed, though many fall under federal authority. The perpetrators often hold respectable positions in their communities or businesses, until their illegal activities discovered. This conflict must be analyzed in the high spectrum of the economic culture of contemporary society.Įconomic system entrepreneurship globalization.White collar crimes cover a wide range of activities, but generally, the crimes are committed by people who are involved in otherwise lawful businesses. Beyond the conceptual and contextual limits understandable for his time, his work is currentlyrelevant because it puts the contractions or conflicts inherent in the triumph of economic liberalism on the global stage at the center of the debate. This allows to establish a link between criminology and international studies.The article makes an analytical and critical sweep of the "white collar crime theory" and relevant associations with two other theories of the same author: "differential association" and "the professional thief".With remarkable analytical acuity, Sutherland showsthe nature of the crime of the upper classes, their corporate logic and their strategies. Organized crime, corruption, tax evasion, corporate crimes and even economic informality are problematic but consubstantial phenomena to economic globalization. The objective of this article is to analyze the contribution of the intellectual work of Edwin Sutherland for the understanding of the nature and treatment of global economic crime in the current context. The Contribution of Edwin Sutherland to the Analysis of Global Economic Crime.
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