White Collar And Corporate Crime Essay

White Collar And Corporate Crime Essay-17
In some cases, politicians hold shares in companies that later get involved in scandals, and their power connections shield them from prosecution.Thus, the close connections that exist between wealth and power on the one hand, and the law on the other, make it impossible for state authorities to rein in corporate and organized crime.For instance, a gang may intend to control the drug market, or a given town.

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Generally, organized crime involve “the illegal activities carried out by structured groups of three or more persons existing for a prolonged period of time and having the aim of committing serious crimes through concerted action by using intimidation, violence, corruption or other means in order to obtain, directly or indirectly, a financial or other material benefit” (Council of Europe, 2002, p. The purpose of organized crime is to exploit illegal markets for monetary gains at the expense of society.

In this regard, organized crime is similar to corporate crime in that no specific individuals are singled out as victims.

The common consensus is that Organized crime functions as a continuing enterprise that rationally works to make a profit through illicit activities, and that it insures its existence through the use of threats or force and through corruption of public officials to maintain a degree of immunity from law enforcement, and more often than not, specialize in profitable yet illegal goods (Albanese, 2000, p. The functioning of organized crime differs from corporate crime in the secretive manner in which they carry out their activities.

While corporations are usually legitimate and publicly known businesses engaging in legal activities, organized crime, on the other hand, include secret groups whose members remain strive to remain anonymous.

For instance, the trafficking of drugs from Mexico and Colombia into the U. has been a persistent problem despite efforts by the U. More often, they both have access to unlimited financial resources, which help them to hire the best legal services to challenge any charges against them.

Moreover, corporate and organized crime thrive because they sometimes buy political connections by funding election campaigns of favorite candidates.However, both forms of crime require some degree of financial, social or political influence to be successfully carried out.This is because although organized crime is not exclusive to a specific race, profession or class, “many studies have shown that those with power, influence, and respectability in local, regional, national, or international society have tended to organize crime more successfully and securely than those without” (Woodwiss, 2001, p. Further, as Edwin Sutherland (1939) once observed, corporate crime is a large-scale version of white collar crime, because it involves people of high-class society, committed in the course of their occupation.Thus, the two forms of crime (white-collar and corporate) overlap each other because they all happen within similar environments, in which the incentives are high for an individual or group of individuals to engage in bribery, money laundering, insider trading, forgery, and embezzlement.As in organized crime, the market is similar in both cases, since “the same market forces and factors that apply to legitimate (corporate) business markets are also mirrored in crime markets” (Dean, et al., 2010, p. This paper discusses the similarities and differences between corporate and organized crime.Similarly, it was the same kind of fraud that, in 2007, saw a number of supermarkets and dairy companies in the UK get fined 6 million for price fixing so as to artificially keep milk and cheese prices and profits high amidst a collapsing economy (Browne, 2011, p. In this regard, the pursuit of financial gains through illegal means is what essentially ties corporate and organized crime together.Organized crime, such as mafias, engages in illegal activities such as drug and human trafficking for the sole purpose of making money.Both corporate and organized crime operates at a global level, thereby making it difficult for governments to adequately deal with their illegal activities.Big companies operate as multinationals, which allows them to carry out their activities in several countries.Organized crime aims to establish a monopoly and market control of a given industry or territory.Thus, rivalry and competition may emerge between different mobs fighting for territorial or industry control.

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