Are we aware of white collar crime?

Tuesday February 10, 2009

White collar crime is becoming more prevalent, and people need to be aware of its danger. People are not as aware of crime that does not cause physical harm.( although white collar crime does cause physical harm) Typically white collar crime includes fraud, which is one of the most seen white collar crime. Other examples of white collar crime include, tax evasion, insider trading,and credit card theft among others. Some top executives are embezzling or selling stock because they know the company is failing, at the same time failing to notify their stock holders which turns into a crime. Their desire for a profit leads to these types of crime and scandal in major businesses. White collar crime can happen on many levels from identity theft to large scale corporate fraud. (I have firsthand knowledge of an incident like this for future blog, stay tuned)

This topic is especially valid and important in the world now, since we are in a recession. Money is tight for most Americans. Since this kind of crime often encompasses businessmen and public officials and does not have physical ramifications it may not be talked about much. If someone murdered people that will be on the news but cases of white collar crime do not always get on the news.The businesses left in the aftermath of these crimes can suffer from the bad publicity but at least they have the chance to survive unlike the person who lost all their money for retirement because of fraud, deception and theft.

This topic needs to be addressed more than it is now; innocent people are being taken advantage of and losing everything by the choices greedy people who choose crime as a way to make their money. This could happen to anyone which is why people need to be careful who they give their money and identity information to. Technology has posed greater risks for money to be stolen from people, with all of the items purchased on the Internet with credit cards.

The Justice System needs harsher penalties for those who are guilty of these crimes. Unfortunately white collar crime is, harder to prove since no one is being physically hurt and the evidence is not always clear and present. Many times the criminal will be wearing a nice, expensive suit and does not look like the typical criminal. This type of crime could be going on as we live each second of the day. You might have already lost your money in your bank account. Be careful how you use your account information and be sure you check out whoever is dealing with your money.