Corporate Crime

Occupational Crimes

committed by individuals

• direct personal gain

Corporate Crimes

not committed for direct personal gain (usually for corporate benefit)

• may benefit individuals indirectly

Transnational Corporate Crimes

crimes perpetrated on people of other societies

Occupational Theft

theft that takes place within the context of one’s occupation

• motivated by direct personal gain

Employee Theft

stealing merchandise and job related items from the workplace

• 75% of employees admit to workplace theft

  • most commonly a result of perceived unfairness

Fiddling

“fiddle” with price

• Ex: coffee is $4 but you say it’s $6 and put the extra $2 in the tip jar

Stealing

taking something that doesn’t belong to you without permission

• Ex: A person shoplifts a phone from a store without paying

Dealing

side hustle situation

• Ex: report that you made 400 cups of coffee when you actually made 600 to sell the 200 later

Pilfering Rights

technically not allowed to do but no one cares

• Ex: Stealing a donut while working at Dunkin

Embezzlement

involves fraudulently taking money (or possibly other assets) that has been entrusted to you or your organization

• Ex: if you have been hired to manage my assets, you steal from my assets

Collective Embezzlement

multiple managements or institutions involved with embezzlement

Land Flips

someone buys a piece of land at a low price and then sells it at a higher price to make a profit

• Ex: Jackie buys a run down house for 20k on purpose and sells it to Katie who takes out a loan but doesn’t pay the bank back. Together, they appraise the house and Katie hires bank worker Neil who values the house for 100k. Bank tries to give back loan but realizes that the house is only 20k but was valued at 100k by Neil. Jackie and Katie gain 80k.

Nominee Loans

owner/officer of S&L extends loan to straw borrower - someone indirectly connected, who receives kickback for obtaining the loan, then returns remaining money to the lender

• Ex: you take out a car loan for five years but pay it back immediately. The lender or financer might close off any cash back or benefits they could have earned from the loan because you’ve paid it off too quickly. This strategy is often used to prevent the lender from making a profit through interest or other financial incentives

Occupational Fraud

committed for direct personal gain in the course of one’s occupation

• lie to make you money

Physician Fraud

unnecessary prescription or procedures, over treatment of Medicare and Medicaid patients

• billing schemes

• poor quality of care

• illegal distribution of controlled substances

• sex with patients under the guise of therapy

Insider Trading

when one uses inside information (unavailable to the public) to gain personal advantage over others in the buying and selling of stock

Corporate Crime

illegal or socially injurious acts of intent or indifference for the purpose of furthering corporate goals

• physically or economically abuse

Corporate Violence: Against Workers

corporation causes harm or puts employees at risk through unsafe working conditions, exploitation or mistreatment

Corporate Violence: Against Consumers

corporation harms consumers through dangerous products, fraud or deceptive practices

• Ex: salmonella

Corporate Violence: Against General Public

corporation’s actions negatively impact society, such as environmental damage, pollution or unsafe practices

• Ex: poisoned water supply

Corporate Theft

property is taken from people

• typically not a face to face interaction

Deceptive Advertising

a company misleads consumers through false or exaggerated claims about a product or service, in order to make it seem better than it actually is

Money Laundering

cleaning “bad” money

• Ex: Walter White would have a car wash every time someone would buy meth

Price Fixing

violations of Anti-Trust Laws, damaging competition in the market

• dunkin and starbucks secretly meet up to up the prices of their coffees