White-Collar Crimes and Index Crimes

This paper examines the seriousness of white-collar crimes and considers the reasons why they are not included in the FBI’s annual Uniform Crime Report. White-collar crimes typically involve commitment of crimes whose main motivation is deceit and financial gain. The most common of these types of crimes are money laundering, tax evasion, embezzlement, and many other types of frauds (Lender, 2014). White-collar criminals keep graduating from smaller crimes to larger ones. In fact their egos become inflated whenever they evade detection. However, there are individuals who have such personality disorders, which often influence them to speak information that other people may want to hear. It is, however, significant that investors protect their businesses from scams through asking questions as well as examining the backgrounds of people they select to manage their money as opposed to depending on their reputations.

The seriousness of White-Collar Crimes is displayed in situations where frauds from various sources hit businesses or companies. In this case, the bottom line is that the company has to take various measures in order to compensate the loss. This may involve increasing prices so that consumers pay more money for products and services, cutting jobs and employees earning less salary than usual (Lender, 2014). The ripple effects of these crimes trickle down to investors or employees who become unable to pay off their loans and even further become unable to secure credits. Insider trading scandals or stock fraud can influence investors to lose interest in the stock market. This obviously implies that white-collar crimes have serious effects on the society. For a long time, such crimes have been difficult to quantify due to inaccessibility of accurate statistics and its wide ripples. White-collar statistics are difficult to find due to a number of factors. The main factor is that consensus still exists regarding the most appropriate definition of white-collar crime. This, therefore, makes people to engage in continuous arguments on what kind of an offence should pass for a white-collar crime. Besides, the seriousness of white-collar crimes lie in the fact that such crimes go unpunished and unreported thereby making related statistics difficult to gather (Payne, 2012). The increasing developments in technology including the increasing use of internet have caused white-collar crimes to become more widespread and hard to resolve. This sudden developments in technology often put law enforcement teams in situations where they lack the capacity to track and apprehend criminals.

But what reasons increase the tempting nature of white-collar crimes? As Payne, (2012) asserts, people who steal from a company; for instance, can rationalize that their actions will not put a dent on the handsome salary of the CEO. It is, also, worth noting that, for a long time, there has been under representation of white-collar crimes in the FBI’s annual Uniform Crime Reports. Some of the factors contributing to these under-representation include lack of immediate victim, powerful statuses of people who commit such crimes, ambiguity surrounding the definition, and lack of capacity for real-time detection of such crimes as they happen. In order to comprehensively deal with white collar crimes, there is need for development of a clear definition of white-collar crimes. There is, also, need for proper policy development on white-collar crimes.

In conclusion, white-collar crimes typically involve commitment of crimes whose main motivation is deceit and financial gain. The seriousness of White-Collar Crimes is displayed in situations where frauds from various sources hit businesses or companies. The ripple effects of these crimes trickle down to investors or employees who become unable to pay off their loans and even further become unable to secure credits. Some of the factors contributing to the under-representation of white-collar crime statistics include lack of immediate victim, powerful statuses of people who commit such crimes, ambiguity surrounding the definition, and lack of capacity for real-time detection of such crimes as they happen.

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