There are various Factors related to white collar crime. Sutherland had investigated that the money loss credited to white-collar crimes, is almost certainly much higher than other types of crimes. The solid reason is that in white-collar crime, companies or individuals intentionally use shoddy building material, market unproven drugs, or deliberately corrupt the environment. Statistical data indicates that between 120,000 and 200,000 people deaths are reported every year in the U. S from health care frauds and 14,000 pass away from on-the-job accidents (Charon, 1986:334).
Government has made powerful laws but these laws are dictated in support of the white-collar criminal. People who commit white-collar crimes are sometimes the same kind of people who are in a position to see to it that their crimes are not defined too detrimental. While the impact of white-collar criminals leave an immense impact on the nation but the cost to each individual is petite. Practically it is observed that no effort from police department goes into skirmishing white-collar crime.
Mainly government agencies (like the Environmental Protection Agency – EPA) have been given power to deal with such crimes. These agencies can act only as watchdogs and point out the matter when a deception is discovered. When a high-level white collar criminal case is filed, it is observed that attorney start advocate for the client in every venue such as talking to the media, bargaining with the government, and making contact with co-defense counsel. Often, when influenced that a person or group of persons have committed crime, public become intolerant with legal niceties (Schulman, pg: 203).
At present, white collar criminals need prolonged sentences that are involved series of corporate scandals. Bernard Ebbers, the former chairman of WorldCom got punishment of 25 years in prison for masterminding an $11 billion accounting fraud that bankrupted the company. But Jonathan Simon, a professor of law at University of California, Berkeley, said: "The most obvious comparison for the emerging attitude toward white-collar criminals is the harsh punishment we give to people involved in the drug trade. But both represent increasingly irrational and inhumane levels of punishment.
" A number of prosecutors and lawyers propose that penalties for the crackdown on corporate crime did not have great impact in the late 1980s, because government has adopted very lenient policies for sentences (Newyork Times). The field of white-collar crime careers offers an exceptional prospect for significantly exploratory the aptness of the concept of career for understanding the expansion of criminal activities among lawbreakers. As per latest ruling, the federal sentencing system become harsh in the penalties for white-collar crimes (U.
S. Sentencing Commission, 1987) and many numbers of offenders are being sentenced to imprisonment (U. S. Sentencing Commission, 1991). New policies have been developed to combat white collar crimes virtually unaware of what impact these changes will have on the possible future criminal conduct among authorized white-collar criminals (Chayet, pg: 7). To sum up, our social system is corrupted by number of white collar crime and it is a great challenge for us to discover suitable resolution to the increasing menace of white-collar crime.
These crimes are directly affecting the economy of the nation and the public's confidence, therefore corrective action must be taken immediately for preventing, detecting, investigating, and prosecuting economic crimes in order to minimize their outcome. Law enforcement is in danger of slipping further behind by highly sophisticated criminals. Better solutions to control crimes are proper execution of laws, regulations, and reporting systems. Main blockade to get to the bottom of the white-collar crime hazard is that the public is not aware of its seriousness.
It is more important to create wakefulness and businesses, and the nation's lawmakers must be convinced with its significance in identifying that such high-tech and economic crimes have an undesirable effect on society. Mostly people are innocent and they are not aware of the degree to which their lives, financial status, businesses, families, or privacy might be pretentious by electronic crime. A rock-hard inspection or accounting background is obliging to detect white-collar crime because swindlers are very clever and they can manipulate the situation very well.
Most of the fraud cases are exposed by accident or some are highlighted by complaints of co-workers. According to estimates from the U. S. Department of Commerce, government is bearing $120 billion annual loss due to stealing committed by employees (Wells, pg: 82). The high increment of economic crimes is mainly due to revolutionary growth of the information age and the globalization of Internet communication and commerce that made difficult to arrest the perpetrators and fail to control the frequency fraud.
1) Stephenson Richard G, Turner Dana L. 1993. The Lure of White-Collar Crime. Magazine Title: Security Management. Volume: 37. Issue: 2. Page Number: 57. 2) Richard Johnston . 2002. "The Exponential Growth of Technology and the Use of Computers Have Triggered a Purposeful Rethinking of the Tools Needed by Law Enforcement Organizations to Address Internet-Related Crime; Magazine Title: USA Today. Volume: 130. Issue: 2680. Page Number: 36.