Solution: Solve each system in Exercises 522. If there is no solution or if there are

3/8 White Collar & Corporate Crime The concepts of white collar crime (wcc) ­ the US Congress defined wcc as an illegal act or series of illegal acts committed by nonphysical means and by concealment, to obtain money or property, or to obtain business or personal advantage ­ the term wcc or personal advantage coined in 1930s by Edwin Sutherland who defined it “as crime committed by a person of respectability and high social status in the course of his occupation” WCC, Estimates ­ wccs are incredibly complex and require thousands of person hours and millions of dollars to unravel, thus making them difficult to equate with street…(she went to the next slide) ­ how much wcc is there ­ wccs are absent from the yearly crime tally of the UCR and NCVS ­ tallies of occupational and corporate wrongdoings are collected and distributed each year by state and federal regulatory agencies such as the FTC (federal trade commission) Occupational crime ­ occupational crimes: crimes committed by individual in the course of their employment ­ professional occupational crime: crimes committed by professionals such as physicians and lawyers in the course of their practices ­ wcc: a sub division of occupational crime committed by a person or group of respected and legitimate occupation or financial activity Examples of occupational crime: ­ income tax violations ­ illegal financial manipulations ­ embezzlement and fraud (e.g health care fraud, securities or stocks, telemarketing ­ insurance fraud (obtaining proceeds from the insurance company through deception) ­ insider trading, kickbacks Corporate Crime ­ corporate crime: a violation of the law committed by an entire firm or occupational organization ­ ex. false claims and advertising, price fixing, environment crimes, unsafe working condition, copyright Enron Scandal: Enron scandal had tremendous damage to the economy WCC vs. Corporate crime ­ main difference between the 2 types: ­ wcc is committed against the corporation (for reasons of personal gain) ­ corporate crime is committed for the corporation (to promote the interest/profits of the corporation) Organized Crime: ­ a group of professional criminals who rely on illegal activities as a way of life and whose activities are coordinated and controlled through same form of centralized syndicate WCC: ­ illegal activities of people/institutions whose acknowledgable purpose is profit through legitimate business transactions Organized Crime: ­ illegal activities of people/organizations whose acknowledged purpose is profit through illegitimate business transactions