For most individuals, white-collar crime is not viewed as a crime at all, because of its non-violent nature. Violent crime has an immediate and obvious impact on its victims, which raises the attention of the public, whereas white-collar crime frequently goes undetected or is viewed as a bending of the rules (Geis, 1982). White-collar crime; however, can have more of an impact than violent crimes. The victim of a violent crime can recover were as the victim of fraud can have endless impact, that can devastate hi

misappropriation of assets significantly contributed to the crippling or failure of many industries such as: Financial institutions, defense contractors (e.g. overcharges, failed product design, diversion of funds); securities brokerage firms (e.g. junk bonds and diversion of funds) and insurance companies (e.g. investment in prohibited ventures and diversion of funds) (Weisburd et al., 1991). The very people who work within and manage these industries are disabling them. Their crimes and lack of corporate morals overshadow, and contribute to, similar behavior of their employees. In other words, creating an embezzlement environment starts at the top of the organization.

Embezzlements include both misuse and misappropriation. Misuse is defined as the abuse of privilege or position without the specific intent to steal; misappropriation is defined as the taking of funds or property with the specific intent to steal (Geis, 1982). Estimates are that less than 10% of these crimes are reported.

It’s less expensive to prevent embezzlement than it is to investigate one. Estimates are that for each $1.00 lost to any crime, the institution loses and additional $4.00. These calculations are conservative, and don’t take into account the other losses the institution will ultimately suffer (Jamieson, 1994). Embezzlements are emotional as well as financial crimes. Victims of embezzlement display the same progression and range of symptoms displayed by victims of sexual assault or catastrophic disasters: shock, disbelief, denial, rage, grief and recovery (Geis, 1982). This cycle generally peaks within six months of the crime, and it may take up to three years for the institution to recover fully.

The real problem behind white-collar crime is not defining white-collar crime, but developing the appropriate means to correct this type of crime. One of the most popular white-collar crimes is embezzlement. Since I feel that this is the most harmful, and most recently exposed type of White Collar crime (Enron), I will focus mainly on this.

Some topics in this essay:
Waring Bode, Williams Honest, , White Collar, Simpson Mistakes, FBI Geis, white-collar crime, geis 1982, specific intent steal, specific intent, intent steal, law enforcement, et al 1991, al 1991, et al, embezzlements committed, industry leaders, crimes committed, weisburd et al, law enforcement agencies, morals ethics embezzlers,