Penalties for White Collar Crime Essay

:: 3 Works Cited
Length: 1100 words (3.1 double-spaced pages)
Rating: Purple      
Open Document

- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -

White collar crime has been discussed more frequently in the last few years. The news has made society aware that white collar crime occurs almost as often as other criminal activity. In fact, white collar crime is one of the most costly crimes. It is a billion dollar criminal industry. White collar criminals seem to continue to engage in the criminal practices because there is no set standard in the penalties given to those that are caught. A look into the public’s perception on whether the penalties given is harsh enough for white collar criminals since most types of crimes have a set of standard penalties for those convicted. A standard set of penalties needs to be looked at for white collar crimes to help in eliminating the criminal behavior and saving society billions of dollars a year.
Perception of Penalties
White collar crime is viewed as non-violent and treated differently than other types of crimes; some that are even violent in nature. In general, personal and public perception can vary from one individual to another. “A recent survey conducted by the National White Collar Crime Center (NWCCC) confirm that the public considers certain white collar crimes as more serious than some street crimes, according to Drs. Marilyn Price and Donna Norris” (Perri, J.D., CFE, CPA, 2011, p. 23). Even though white collar crimes do not seem a violent as someone that commits murder; there is still major damage done. For example, a fraud victim goes through a lot of hardship. They can be harassed, have their identity stolen and lose everything. This in many cases can be looked at as a severe crime. Valuables taken during a burglary can be replaced easily, but someone’s identity and livelihood cannot be given back. Most white...

... middle of paper ...

...o disappear and tougher penalties need to be designed to handle white collar criminals. Without this white collar crime will continue and society will no longer be able to trust anyone with their finances. In turn, the economy will decline.


Henning, P. (2013, February 25). The challenge of sentencing white-collar defendants. New York Times. Retrieved from

Perri, J.D., CFE, CPA, F. (2011, January/February). White-collar crime punishment too much or not enough?. FRAUDMAGAZINE, Retrieved from

Sentences for white-collar criminals: Too harsh or too lenient. (2012, June 8). Retrieved from

Click the button above to view the complete essay, speech, term paper, or research paper

Need Writing Help?

Get feedback on grammar, clarity, concision and logic instantly.

Check your paper »

This essay is 100% guaranteed.

Title Length Color Rating  
Essay on White Collar And Organized Crime - White Collar And Organized Crime In the twentieth century, White Collar and Organized Crimes have attracted the attention of the U.S. Criminal Justice System due to the greater cost to society than most normal street crime. Even with the new attention by the Criminal Justice System, both are still pretty unknown to the general public. Although we know it occurs, due to the lack of coverage and information, society does not realize the extent of these crimes or the impact. White Collar and Organized is generally crime committed by someone that is considered respectable and has a high social status....   [tags: criminal justice, costly crime, felony]
:: 3 Works Cited
895 words
(2.6 pages)
Better Essays [preview]
White Collar Criminal Activity Essay - The major work by Sellin and Wolfgang (1964) on rating the seriousness of crime in general. White Collar criminal activity can be the work of one “lone wolf” defendant, or a network of perpetrators, often within an organization. The penalties for white-collar offenses can be restrictive or require imprisonment and include fines, home detention, paying prosecution costs, forfeitures, restitution, and supervised release. The most common White Collar offenses include: antitrust violations, computer and Internet fraud, credit card fraud, phone and telemarketing fraud, bankruptcy fraud, healthcare fraud, environmental law violations, insurance fraud, mail fraud, government fraud, tax evasion, sec...   [tags: bribery, fraud, perpetrators] 1498 words
(4.3 pages)
Powerful Essays [preview]
Essay about Faceless Criminals: Fraudulent Business Practices of American Express - In the last year there has been an alarming trended of fraudulent business practices by some of the biggest companies in the business world. In Sept 2013, JP Morgan was hit with a multi-Billion dollar fine for home loan scandals involving Fannie Mae and Freddie Mac. In the most recent mega corporation settlement American Express (AMEX) settled its latest of two cases over the last 16 months for deceptive billing practice. Why are companies knowingly deceiving the American public for financial gain....   [tags: billing, fees, white collar]
:: 3 Works Cited
702 words
(2 pages)
Better Essays [preview]
Essay about Jordan Belfort: The Wolf of Wall Street - Jordan Belfort: The Wolf of Wall Street History of the case Definition of Crime Laws Violated Penalties Imposed Upon Guilty In 1998 Jordan Belfort was indicted with 27 counts of International Securities Fraud and Money laundering. After cooperating with the FBI, in 2003 Belfort was sentenced to four years in prison and fined and ordered to back approximately $110 million that he had defrauded from investors. He served 22 months in federal prison and was ordered to pay investors 50% of his income until $110.4 million was collected (Kolhatkar, 2013)....   [tags: crime, law, penalties]
:: 3 Works Cited
949 words
(2.7 pages)
Better Essays [preview]
What Causes Criminal Behavior Essay - Criminologists studied criminal behavior for many years. In fact, criminologists have come up with many different answers and theories as to why individual actually commits crimes. Even though there are many differences each answer and theory helps assists the legal system with deterring such criminal activity. One of the most costly forms of crime; white collar, shows many distinct characteristics that can be placed in a criminal profile. Upon the use of theories and profiles; determination can be made as to why individual commits white collar crimes....   [tags: white, collar, commits, theory, profile] 1057 words
(3 pages)
Better Essays [preview]
White Collar Crime in America Essay - We like every other person in this world, when we hear the word crime; we automatically get an image of a person from a low class in a bad neighborhood and coming from a troubled family. However, who knew that those who are educated and coming from a wealthy family can also pertain to the world of crime and mischief. We as human beings tend to also be judgmental, assuming that only unprivileged men have a drive to commit an offense against the law then a prosperous individual. Nevertheless, it is not our evil doing that we are regularly pushed to foresee this problem this way, especially not when it is the media, the government, and the media are the ones who painting this picture for us....   [tags: White Collar Crime, crime, USA, ] 505 words
(1.4 pages)
Good Essays [preview]
Securities And Exchange Commission Vs. Richard Hawkins Essay - Securities and Exchange Commission vs. Richard H. Hawkins While the widely exposed and discussed trials of WorldCom's and Tyco's top executives were all over the media, one of the most interesting cases of securities fraud was happening without any public acknowledgement. Richard Hawkins, ex-CFO of a health service industry giant McKesson, was accused and later brought to court for inflating revenue at McKessonHBOC. The acquisition of HBOC, a medical software company, happened long after Hawkins became the CFO, but right before the management of both companies decided to falsify the facts....   [tags: white collar crime ] 1331 words
(3.8 pages)
Strong Essays [preview]
Essay about Corporate Crime - Between April 20th 2010 and July 15th 2010, BP's drilling rig explosion in the Gulf of Mexico was the biggest oil spill in the history of the petroleum industry. Eleven people died. # of days later and $ in fines, BP stopped the spilling of oil into the ocean. According to the U.S. Fish and Wildlife Service (USFWS) reported on September 17th, “in terms of land animals, at least 3000 have died, tens of thousands of others have been affected [including] millions of sea organisms [although] there is no accurate count”....   [tags: History, Petroleum Industry, Oil Spill] 2730 words
(7.8 pages)
Powerful Essays [preview]
Crime Essay - Crime refers to many types of misconduct forbidden by law. Crimes include such things as murder, stealing a car, resisting arrest, possessing or selling illegal drugs, appearing nude on a public street, drunken driving, and bank robbery. The list of acts considered crimes is constantly changing. For example, at one time, people were charged with witchcraft, but this is no longer illegal. Today, it is becoming a serious crime to pollute the air and water. In colonial days, pollution received little attention because it caused few problems....   [tags: essays research papers] 2091 words
(6 pages)
Strong Essays [preview]
White-Collar Crime Essay - Businesses are vulnerable to a variety of internal and external crime that affects an organization’s performance. White-collar crime is a problem affecting businesses in the U.S. and around the world, costing billions of dollars in lost revenue every year. This paper will identify the types of employee crimes focusing on theft and the perpetrators; examine the impact to businesses and explore how business can deal with these offenses. Mr. Smith places some extra highlighters and colored paper in his briefcase from the office’s supply closet for young Billy to use on his school project....   [tags: Crime ]
:: 4 Works Cited
1564 words
(4.5 pages)
Powerful Essays [preview]