Ch 12: Economic Crimes

economic crime

an act committed in violation of the criminal law for the purpose of monetary gain & financial benefits

blue-collar crimes

traditional common law theft crimes such as larceny, burglary, and arson

white-collar crime

crimes of business enterprise such as embezzlement, price, fixing, and bribery

green-collar crime

crimes that affect the enviorment

theft

the intentional taking, keeping, or using of another's property without authorization or permission

occasional criminals

offenders who do not define themselves by a criminal role or view themselves as committed career criminals

situation inducement

short-term influence on a person's behavior such as financial problems or peer pressure, which increases risk taking

professional criminals

offenders who make a significant portion of their income from crime

larceny

taking for one's own use the property of another, by means other than force or threats on the victim or forcibly breaking into a person's home or workplace; theft.

constructive possession

a legal fiction that applies to situations in which persons voluntarily give up physical custody of their property but still retain legal ownership

petit (petty) larceny

theft of a small amount of money or property, punished as a misdemeanor

grand larceny

theft of money or property of substantial value, punished as a felony

shoplifting

the taking of goods from retail stores

snitch

amateur shoplifter who does not self-identify as a thief but who systematically steals merchandise for personal use

booster (heel)

professional shoplifter who steals with the intention of reselling stolen merchandise

merchant privilege laws

legislation that protects retailers & their employees from lawsuits if they arrest & detain a suspected shoplifter on reasonable grounds

naive check forgers

amateurs who cash bad checks because of some financial crisis but have little identification w/ a criminal subculture

systematic forgers

professionals who make a living by passing bad checks

fence

a buyer & seller of a stolen merchandise

burglary

entering a home by force, threat, or deception with intent to commit a crime

arson

the willful, malicious burning of a home, building, or vehicle

chiseling

using illegal means to cheat an organization, its consumers, or both, on a regular basis

insider trading

illegal buying of in a company on the basis of information provided b someone who has a fiduciary interest in the company

exploitation

forcing victims to pay for services or contracts to which they have a clear right

influence peddling

using one's institutional position to grant favors & sell information to which one's co-conspirators are not entitled

payola

the practice of record companies bribing radio stations to play songs without making listeners aware of the payment

embezzlement

a type of larceny in which someone who is trusted with property fraudulently converts it to his or her own use or for the use of others

corporate (organized crime)

powerful institutions or their representatives willfully violate the laws that restrain these institutions from doing social harm or require them to do social good

Sherman Antitrust Act

Federal law that subjects to criminal or civil sanctions any person "who shall make any contract or engage in any combination or conspiracy" in restraint of interstate commerce

price fixing

the illegal control by agreement among producers or manufacturers of the price of a commodity to avoid price competition and deprive the consumer of reasonable prices

criminal environmental pollution

a crime involving the intentional or negligent discharge into the bio system of a toxic waste that destroys plant or animal life

compliance stragegies

methods of controlling white-collar crime that rely on the threat of economic sanctions or civil penalties to control potential violators, creating a marketplace incentive to obey the law

deterrence strategies

methods of controlling white-collar crime that rely on the punishment of individual offenders to deter other would-be violators