White-collar crime was defined by Edwin Sutherland as a “crime committed by a person of respectability and high social status in the course of his occupation.” Since this term was coined by Sutherland in 1939 during his speech for American Sociological Society, debates have risen as to what particular crimes will be considered as white collar crimes.
White-collar crime is considered to be a highly serious form of crime in the United States, next in significance only to face-to-face violence. According to the U.S. Bureau of Justice Statistics (Barnett, 2000), it is estimated that in terms of financial loss, white-collar crime impacts the public more adversely than all other forms of crime combined.
White collar crime is often seen as less damaging than street crime, but in reality, victims of white collar crime do suffer from tremendous damages. Aside from the obvious financial loss, they are known to have struggles with psychological, emotional, and physical health (Kempa 2009).Why is white collar crime not pursued in Canada? It’s because Canada has one of the weakest securities regulatory systems in the world. Canada has no national securities regulators like the SEC. Instead, it has provincial securities commissions that have been captured by local financial and legal establishments, making them ineffectual.As a country, Canada is also a victim. Although it might not be as tragic as a personal loss of finances, it is just as disruptive to the economy. White-collar crime can undermine profits and productivity just by simply turning investors off of certain goods and services. Simply put, people will hesitate before investing in Canada.
THE STUDY OF WHITE COLLAR CRIME: TOWARD A REORIENTATION IN THEORY AND RESEARCH EARL R. QUINNEY Dr. Quinney is Assistant Professor of Sociology in the University of Kentucky. He previously served as Instructor in the Department of Sociology and Anthropology of St. Lawrence University.
White Collar crime has been a hot topic since the 20th century. Edwin Sutherland introduced the term at the fourth annual meeting of the Sociological Association. At this meeting he explained who this type of criminal is and what the criminal does for a living.
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White-collar crime and corporate crime are similar because they take place within the business world. The difference is that white-collar crime benefits the individual(s) involved, and corporate crime benefits the company or the corporation, usually high-ranking individuals within the corporation.
Actually, Canada has for a long time been accused of being too soft on such white collar crimes, the accusations being that the trials are too lengthy and the sentences are low. But it has to be taken into account that this type of crime is difficult to prove, and wrongful accusations are frequent. Let’s see which white collar crime cases are.
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Types of White Collar Crime. of White Collar Crime Types of White Collar Crime White Collar Crime in our country has been highly publicized over the past decade or so. A few of the well-known events are WorldCom (2002), Enron (2001), and the Bernie Madoff Ponzi scheme (2008). The fact is white collar crime is on the rise and it comes in many forms; embezzlement, identity theft, insider trading.
White-collar crime is a generic term that refers to a broad range of illegal acts committed by seemingly respectable people in business settings as part of their occupational roles. There are many different types of white-collar crime, ranging from antitrust offenses to environmental violations to health care frauds and beyond.
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