Corporate Crime Assignment

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Added on 2019-10-01

Corporate Crime Assignment

Added on 2019-10-01

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Running head: Corporate crimeBLOG WRITING

Running head: Corporate crimeCORPORATE CRIMEAugust, 5th 2019INTRODUCTION TO CORPORATE CRIMEIn the context of criminology, corporate crime is the type of crime which is eithercommitted by a corporation or by the individual who is acting on behalf of the company. Insimple words, it can be said that the crime which is committed for the purpose to provide benefitto the company is being called by the name of corporate crime. Herein it can be said that it isvery much important for the organization that it should always follow the rules and regulationsof good corporate governance. Thus, if any company deviate it from the principle of goodcorporate governance then in this situation there are greater chances that the respective firm hasindulged itself into criminal activities. In the worst corporate crime-related case, the company will tend to face judicialdissolution. It is also called by the name of death of the corporate or the business entity. For thefirm, it is very much essential that it should not indulge itself in any type of corporate crime.This is because; such type of activity from the side of enterprise will tend to have a negativeimpact on the respective customers of the enterprise. Further, the given type of thing will stop thefirm’s customers with respect to use the goods and services of the corporation in an effectualmanner. In this study, a detailed description will be given about the concepts that are just similarto corporate crime. Further, the discussion will also be carried out in relation to the ways withthe help of which corporate crime can be mitigated from the firm. CORPORATE CRIME OVERLAPPINGThe term such as corporate crime is always overlapping with the three other types ofterminology. Hence, it is very much essential for the individual that it should get the idea aboutconcepts that are related to corporate crime. It is by complying with a given type of activityonly better understanding about the terms can be made in an effectual way. The detailexplanations about all of them are given below:1

Running head: Corporate crimeWhite-collar crimeThe given type of crime is basically being done by the white-collar employees of thefirm. Hence, in other words, it can be said that white-collar crime is the type of crime which isbasically being done by the upper-income class section of the society. Since the white-collaremployees are linked with the elite and the professional class, so it is being called by the name ofwhite-collar crime. This is similar to corporate crime. But the only difference that tends to existbetween corporate crime and white-collar crime is that corporate crime tends to providebenefit to all the members of the company that includes investors and suppliers etc. However,white-collar crime will tend to provide benefit to the individual person only. In addition to this, it can also be depicted that white-collar crime aims to providefinancial benefit to the business personnel. On the other hand, Edwin Sutherland is the personwho had given the definition of the white-collar crime in 1939. The white-collar crime is relatedto cases like wage theft, insider trading, bribery, cybercrime, money laundering, and forgery, etc.Overall, it can be said that it is also being regarded as one of the most important categories thatare associated with the concept of corporate crime in an effectual way. Organized crimeThe term corporate crime is also overlapped with the concept such as organized crime.In accordance with the given context, it can be said that the organized crime basically possessdifferent types of illegal street activities such as cross border operation like drug trafficking,kidnapping, performing manipulation in the accounts, tax evasion and misappropriation of thefunds, etc. However, the only similarity that exists between corporate crime and organizedcrime is that it tends to involve some degree of social and political influence with an aim toperform the operation in a successful manner. In other words, it can also be depicted that organized crime is being regarded as one ofthe categories of transnational and the local grouping of the highly centralized organization suchas terrorist group, etc. In this regard, there are different criminal firms that tend to force theenterprise with respect to performing some kind of operation with them. The criminalorganization is typically called by the name of mafia or syndicate etc. In the country such as theUnited States, a special act is formed with an aim to control the activities that are related to theorganized crime. The act is called by the name of organized crime control act 1970. 2

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