1.1 Analyse different types of crime
White Collar Crime
Definition Organised, non violent crime committed by government
professionals or businesses or people in a power of authority
with the motivation of financial benefit. Examples include tax
evasion, defrauding customers, breaking health and safety
laws, polluting the environment and discrimination against
employees (Financial crimes).
Corporate crime- a type of white collar crime when a crime is
committed by a corporation/company or individuals acting
for said corporation rather than individuals.
Organised crime- criminal activities that are planned or
controlled by powerful people or organisations.
Professional- by professionals for their own personal gain.
Victims Any person (typically those with money to invest in a finance
scheme,or corporations
Offenders Businesses or government professionals, people with high
social status who are trusted by the victims.
Level of public The crime tends to be concealed due to the perpetrators'
awareness sophisticated and professional ways. Suspicion is usually not
aroused due to the offender's high respectability. Public
awareness is low since it is nonviolent related crime therefore
headlines do not tend to include it.
Criminal/deviant Both criminal and deviant. Both against the law and
or both negatively viewed in the public eyes.
Example 1 Bernie Madoff- professional white collar crime
He ran a ponzi scheme which meant that he took money from
many customers and didn’t invest it like he was paid to do. He
had a high profile, respected, had a high reputation as a
'finance wizard’, trusted by customers so he got away with it
for 15 years minimum. Low level of public awareness so
nobody suspected anything and he made fake reports of
money profit so customers believed him and people didn’t
really know what a ponzi scheme was so it wasn’t suspicious.
When people withdrew money due to the Wall Street crash,
his scheme was uncovered and he was given 150 years in
prison. It was uncovered during the Wall Street crash.
A recent ponzi scheme crime was committed by the actor
, Zachary Horwitz. He ran a 5 year multi million ponzi scheme of
at least 227 million.
Example 2 The Krays- Organised white collar crime
They were brothers living in East London who engaged in
many different crimes.
Money laundering, the process of exchanging large amounts
of money obtained from crime, through their nightclub.
They told people that they would be protected if they paid
them, they demanded the money.
People were afraid to go to police about them due to certain
other crimes they had committed and they feared the
brothers.
The organised crime that they committed is much less
reported about (more violent).
White Collar Crime
Definition Organised, non violent crime committed by government
professionals or businesses or people in a power of authority
with the motivation of financial benefit. Examples include tax
evasion, defrauding customers, breaking health and safety
laws, polluting the environment and discrimination against
employees (Financial crimes).
Corporate crime- a type of white collar crime when a crime is
committed by a corporation/company or individuals acting
for said corporation rather than individuals.
Organised crime- criminal activities that are planned or
controlled by powerful people or organisations.
Professional- by professionals for their own personal gain.
Victims Any person (typically those with money to invest in a finance
scheme,or corporations
Offenders Businesses or government professionals, people with high
social status who are trusted by the victims.
Level of public The crime tends to be concealed due to the perpetrators'
awareness sophisticated and professional ways. Suspicion is usually not
aroused due to the offender's high respectability. Public
awareness is low since it is nonviolent related crime therefore
headlines do not tend to include it.
Criminal/deviant Both criminal and deviant. Both against the law and
or both negatively viewed in the public eyes.
Example 1 Bernie Madoff- professional white collar crime
He ran a ponzi scheme which meant that he took money from
many customers and didn’t invest it like he was paid to do. He
had a high profile, respected, had a high reputation as a
'finance wizard’, trusted by customers so he got away with it
for 15 years minimum. Low level of public awareness so
nobody suspected anything and he made fake reports of
money profit so customers believed him and people didn’t
really know what a ponzi scheme was so it wasn’t suspicious.
When people withdrew money due to the Wall Street crash,
his scheme was uncovered and he was given 150 years in
prison. It was uncovered during the Wall Street crash.
A recent ponzi scheme crime was committed by the actor
, Zachary Horwitz. He ran a 5 year multi million ponzi scheme of
at least 227 million.
Example 2 The Krays- Organised white collar crime
They were brothers living in East London who engaged in
many different crimes.
Money laundering, the process of exchanging large amounts
of money obtained from crime, through their nightclub.
They told people that they would be protected if they paid
them, they demanded the money.
People were afraid to go to police about them due to certain
other crimes they had committed and they feared the
brothers.
The organised crime that they committed is much less
reported about (more violent).
