The Invincible Criminal Essay -- Crime & Punishment

Imagine losing your retirement funds or being a victim of a mortgage fraud because money from your bank account disappeared overnight! The 1996 report of the National Criminal Justice Commission estimated that the annual cost of white-collar crime is between $130 billion and $472 billion, seven to twenty-five times greater than the cost of conventional or street crime (Conklin, 2010, P. 71). White-collar crime in America is considered larceny committed by the wealthy, respected, and legitimate enterprise which is not set up or intended to go out of business like an ordinary fraud or con game. White-collar crime offenses may involve forgery, embezzlement, or fraud involving massive amounts of money. Offender’s commit fraudulent acts in the course of normal business practice, but is considered unethical and violates accepted accounting principles and mainly public trust. To help better understand the issue the essay will explain several incidents which are involved with white co llar crime and how it hurts many individuals from families to businesses. Even though white-collar crime offender’s gain an increase in salary and may go unnoticed, the criminal justice system should continue to take a stance on white collar crime. Because mainly white collar crime is a serious invincible crime, laws that regulate white collar crimes are necessary, and impacts society's way of life. Additionally, a proposed suggestion will be presented to counter the identified problems and conclude final thoughts on white-collar crime. At the end of the day the goal to continue law regulations against white collar crime while maintaining public protection will be the driving emphasis behind this essay. Defining White-Collar Crime First, the criminal just... .... N., Gilbert, J. A., & Konopaske, R. (2003). Deterring white-collar crime. Academy Of Management Executive, 17(2), 114-127. Retrieved April 20, 2012 from EBSCOhost. (doi:10.5465/AME.2003.10025206) Maddan, S., Hartley, R., Walker, J., & Miller, J.. (2012). Sympathy for the Devil: An Exploration of Federal Judicial Discretion in the Processing of White-Collar Offenders. American Journal of Criminal Justice : AJCJ, 37(1), 4-18. Retrieved April 19, 2012, from ProQuest Criminal Justice. (Document ID: 2586601701). Podgor, E.. (2007). The Challenge of White Collar Sentencing. Journal of Criminal Law & Criminology, 97(3), 731-759. Retrieved April 19, 2012, from ProQuest Criminal Justice. (Document ID: 1392880651). U.S. Department of Justice, Federal Bureau of Inves ¬tigation (1989). White Collar Crime: A Report to the Public. Washington, D.C.: Government Printing Office.