According to Russell Mokhiber, corporate crimes are more damaging to society than the common crimes that we know of. This statement is proved by the fact that when the budget deficit of the country due to corporate crimes is compared with the same deficit due to ordinary street crimes, the total amount of loss from corporate crimes is almost 300 percent bigger than the loss from street crimes. This applies to fraud in the health care industry alone.
(Mokhiber, 2007) Now, this piece of information, alarming as it may seem, changes the way people see crimes as the definition of corporate crime exists in a different dimension. So what really is corporate crime? Corporate crime is categorized as a white-collar crime. Moreover, it is a form of injustice done by people belonging to the upper class level of society and holding high positions of authority within the social strata. The injustices that they commit are done through manipulation and violation of the standard rules and regulations by means of using power of authority.
Another definition of corporate crime is a crime done by a corporation or members of the corporation, which is illegal or unlawful, therefore punishable by the laws embodied in the constitution. There is a certain distinction between corporate crime and the ordinary street crimes that we know of, such that they vary in terms of manner in which the crime was done. (Simpson, 2002) Furthermore, there are various corporate crimes that differ according to the damage done and the thing, people, or places that were affected due to the crime.
Another article by Mokhiber enumerated the various categories of corporate crimes such as environmental, food and drug, and financial crimes, antitrust, fraud and campaign finance, declaration of false statements, illegal exports and boycotting, worker death, bribery that relates to obstruction of justice, corruption and tax evasion. (Mokhiber, 2008) Individuals who commit corporate crime are greedy for power and authority that the accumulation of large funds can assure them. In this case, the corporation is used to accomplish their aims.
Furthermore, individuals belonging to the corporation who live in a lavish lifestyle that goes beyond what they can provide for are prone to be involved in corporate crimes. (Fitz, 2008) Individuals involved in this particular crime are educated who are most likely to review past corporate crimes in order to determine how to avoid being caught and creates and implements a thorough plan on how to conduct the crime. Other characteristics that are attributed to corporate crime offenders are that they are usually suffering from serious financial problems. (O’Connor, 2006)
Crimes that are committed within the corporate sphere are brought about by several reasons, such as having ripe chances of committing the crime and thinking that one shall get away with it. Corporate crime offenders wait for the right moment to commit the crime. Other reasons include desires of corporate individuals to live in luxury or to pull themselves out from financial burdens. More often than not, offenders are pushed to commit corporate crimes because of their pressing need to pay off debts and taxes due to the quality of life that they are living.
Most of them live beyond their financial capability, and the only way for them to maintain their lavish lifestyle is to procure funds and properties through illegal means. (Fitz, 2008) Stricter implementation of rules and regulations, including punishments for corporate crimes committed should be enforced by the authorities. Their failure to detect such crimes contributes to the increasing occurrence of corporate crimes in the country. Furthermore, laws should be legislated in order to lift the privacy clauses for the financial statements, and other documents of a company for monitoring and investigation.
This should be done while ensuring corporations that the information gathered from the monitoring and investigation phase shall be kept private within the sphere of the corporation and the investigating body. Moreover, the government should be strong in countering corporate crimes. Often, the problem of government policies is that corporations or individuals who have acquired large amounts of money may be able to buy justice. With voluntary cooperation between parties involved, corporate crimes shall be visibly detected and punished according to the constitution. (Brown, 2004)
Brown, D. K. (2004). The Problematic and Faintly Promising Dynamics of Corporate Crime Enforcement. Retrieved April 6, 2008, from Ohio State Journal of Criminal Law. Website: http://moritzlaw. osu. edu/osjcl/Articles/Volume1_2/Symposium/Brown_1_2. pdf Fitz, A. M. (2008). Corporate Crime: Trends in Liability in the Aftermath of Enron. Retrieved April 6, 2008, from Atlanta Criminal Defense. Website: http://www. atlanta-criminaldefense. com/pdf/CORPORATECRIME. pdf Mokhiber, R. (2007). Twenty Things You Should Know About Corporate Crime. Retrieved April 6, 2008, from Independent Media Institute. Website: http://www.alternet. org/story/54093/? page=entire Mohiber, R. (2008).
Top 100 Corporate Criminals of the Decade. Retrieved April 6, 2008, from Corporate Predators. Website: http://www. corporatepredators. org/top100. html O’Connor, T. (2006). Intelligence Analysis of White Collar Crime. Retrieved April 6, 2008, from Megalinks in Criminal Justice. Website: http://www. apsu. edu/oconnort/4200/4200lect05. htm Simpson, S. (2002). Corporate Crime, Law, and Social Control. Retrieved April 6, 2008, from Cambridge University Press. Website: http://assets. cambridge. org/052158/0838/sample/0521580838ws. pdf