White Collar Crime

White Collar Crime
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White Collar Crime
A white-collar crime is defined as a crime that is committed in the course of occupation by a respectable person and of high social status that is against the standards of an organization. It can happen knowingly or unknowingly to the victim and may occur in the form of, for instance, fraud. The effects of the crime affect the company in question, employees and customers at large. Organizations are the major victims of such crimes such as embezzlement, theft by employee and bribery among other forms of fraud. Mostly, they are vulnerable to crimes which involve the financial knowledge or technical expertise of workers. Even though they are the targets, mostly the losses are passed over to customers and employees (Rosoff, Pontell & Robert, 1998).
Croall (2001a) alleges that, the effects of collar crimes on workers are exploitation from employers for resisting to comply with compensation rules and other terms and conditions of employment. Many white-collar crimes that involve the employees cause them to lose job position and heavy fines. The effects of the crimes to consumers result to economic constraints such as high cost of products and reduced services as the cost is forwarded to them due to high cost of business operations in companies. When large corporations and wealthy people evade taxes, average citizens through hiking of taxes bear the burden. Another effect to the consumers is loss of their hard-earned money through fraud when they are conned in the course of transactions (Levi, 2005).
Robert and Makau (2000) report that, corporate crime has been on the rise in the recent past and are of a wide variety resulting to losses in corporations. When companies are faced with such crimes, it is not the management that bears responsibility but workers and consumers. The high cost of ...