Chapter 12: Crimes of Power: White-Collar, Corporate, Green, and Organized Crime

Twenty flashcards covering core concepts of White-Collar, Corporate, Green, and Organized Crime from the lecture notes.

What is Enterprise Crime?

Illegal acts of opportunity that involve breaking regulatory rules for financial gain.

Who first used the term 'White-Collar Crime' and what does it describe?

Edwin Sutherland; crimes by professionals who use their position for personal gain, often civil and involving trust violations.

What are middle-class white-collar crimes?

Tax evasion, health fraud, and disability fraud.

What are upper-class white-collar crimes?

Soliciting bribes, kickbacks, and embezzlement.

What percentage of frauds are committed by individuals within an organization?

35%.

Name the four main categories of White-Collar Crime Offences.

Corporate Crime, Government Crime, Occupational Crime, Organized/Professional Crime.

What are Edelhertz Ad Hoc Violations?

Violations committed for personal profit, such as welfare or tax fraud.

What is Abuse of Trust in white-collar crime?

Crimes against an organization, such as embezzlement.

What does 'Collateral Business' mean in white-collar crime?

Actions taken to protect the business, such as concealing pollution.

What are 'Con Games' in white-collar crime?

Frauds designed to cheat clients, such as fraudulent land sales.

Give an example of a huge white-collar theft in history.

Bank of Credit and Commerce International (BCCI) involving false accounting and unsecured loans.

What is 'Chiselling' in white-collar crime?

Cheating organizations or its customers; a form of fraud with examples like bogus auto or home repairs and misrepresenting products.

Name two professional chiselling examples.

Pharmacists altering prescriptions or substituting generics; lawyers forging signatures on compensation cheques.

What is 'Churning' in securities fraud?

Making repeated trades to fraudulently increase commissions; overseen by regulatory bodies.

What is 'Insider Trading'?

Illegal buying of stock using privileged information provided by an insider.

What is 'Arbitrage' in securities fraud?

Buying large blocks of stock in companies believed to be targets of corporate takeovers.

What is 'Influence Peddling and Bribery'?

People in important positions selling power, influence, and information; requires oversight to curb corruption.

What is 'Embezzlement' in white-collar crime?

Use of position to embezzle company funds or property; includes blue-collar and management fraud.

What are Health Care Fraud, Bank Fraud, and Tax Evasion?

Health Care Fraud—overbilling; Bank Fraud—false loan statements; Tax Evasion—underreporting income with intent.

What is the unique claim about corporations in corporate crime?

Corporations are not individuals.