Discussion post #1
Why are White-Collar crimes difficult for law enforcement to detect and prosecute?
White-collar crimes are more difficult to detect because most crimes are not reported, and the criminals are typically not your average criminals. These criminals are usually smart, charming, and well-educated. They leave no trace marks nor records of transaction, so they won’t be able to be traced back. So, most of the times these criminals are getting away with it.
Name and discuss 3 different types of White-Collar Crimes that are difficult to detect and prosecute. Provide an example of case that signified one of different types. Provide a case synopsis.
Three different types of white-collar crimes are fraud, money laundering, or corporate crimes. Fraud is usually done in big corporates. Since fraud, can be hard to detect most employees and corporates get away with it. Furthermore, fraud overlooks data that can take a long time to investigate. Nevertheless, data can also be destroyed to leave no evidence behind. Corporate’s crimes are usually done the most. No one really suspects of high a respected individual that is successful. These criminals usually have resources that helps them steal from potential clients for profits or steal within their own companies.
Which of the identified White-Collar crimes are the costliest to society . The costliest white-collar crimes are corporate crime. With all the crimes they commit it affect the money whether its from their consumer, their company itself or the economy. With an estimate by the FBI, the annually cost of the United State about billions of dollars.
Which of the identified White-Collar crimes are the most dangerous to society?
Corporate crimes are the most dangerous to society. Corporate crime are also top priories for the FBI law enforcement officers. Because of their significant crimes such as fraud, embezzlement, money laundering it can result to harm the U.S economy and many investor companies.
Discussion post #2
1.) Why are White-Collar crimes difficult for law enforcement to detect and prosecute? Many white-collar crimes are especially difficult to prosecute because the perpetrators use sophisticated means to conceal their activities through a series of complex transactions. Whistleblowers are particularly helpful to prosecutors of white-collar crime, because these whistleblowers report internal wrongdoing.
2.) Name and discuss 3 different types of White-Collar Crimes that are difficult to detect and prosecute? Provide an example of case that signified one of different types. Provide a case synopsis. White-collar crime is also often more difficult to detect than other types of crime, in part because losses may not be immediately apparent to victims but also because the crimes can involve sophisticated schemes and cover-ups. Many white-collar crimes require concerted criminal activity by coconspirators. Fraud is a broad term that encompasses several different schemes used to defraud people of their money. Embezzlement is a crime of theft, or larceny, that can range from an employee taking a few dollars out of a cash drawer to a complex scheme to transfer millions from a company’s accounts to the embezzler’s accounts. Our money has become more colorful and expanded in detail because it had to in order to combat counterfeiting. With today’s computers and advanced laser printers, the old currency was just too easy to copy. However, it’s questionable how successful the government’s efforts in this area have been. Rumor has it that very high-quality copies of the new $100 bill were available within 24 hours of the new bill first being issued.
3.) Which of the identified White-Collar crimes are the costliest to society? According to the Federal Bureau of Investigation (FBI), white-collar crime is estimated to cost the United States more than $300 billion annually. Although typically the government charges individuals for white-collar crimes, the government has the power to sanction corporations as well for these offenses. The penalties for white-collar offenses include fines, home detention, community confinement, paying the cost of prosecution, forfeitures, restitution, supervised release, and imprisonment.
4.) Which of the identified White-Collar crimes are the most dangerous to society? Corporate fraud continues to be one of the FBI’s highest criminal priorities—in addition to causing significant financial losses to investors, corporate fraud has the potential to cause immeasurable damage to the U.S. economy and investor confidence.