White collar crime: characteristics, patterns, and prevention

White Collar Crimes

Supervisor: (Insert)

The paper focuses on specific aspects of white collar crime. The paper primarily focuses on answering two questions directly related to white collar crime. The first question is a comparative analysis focusing on the laws on white collar crime within the United States and other countries. The question also analyzes the extent of operative power to counter the white collar crimes and strictly apply the laws and regulations between the two chosen countries. The second question takes the analysis a little further and focuses specifically on methods of practical enforcement between the two countries as well as the possible variations that might exist in the two countries in the social stigma and punishment related to white collar crimes in both countries.

USA and UK -- White Collar Crime Regulations

The countries, USA and UK, have strict laws against white collar crimes and do tend to apply them strictly across the border for most of the recognized white collar crimes. The primary difference between the laws applied in the U.S. And the UK is that the punishment is far harsher in the U.S. As opposed to the UK. The varieties of punishments that the U.S. applies includes aspects of not juts imprisonment but also includes fines, probation and community service. The nature of the punishments in the U.S. became harsher after the application of the laws brought forth in the Sarbanes-Oxley Act of 2002. This act primarily focused on the ethical foregoing of crimes and thus white collar crime came to the forefront of all matters and was the reason behind stronger law enforcement structures in the U.S. There is a dedicated national crime unit in the U.S. FBI structure that focuses primarily on the white collar crimes committed whether they are committed on a personal, corporate or government level. This unit is the primary enforcer of the laws and serves as the primary policing unit for the punishment that white collar criminal receive in the country (Blumberg & Associates, 2012).

The UK on the other hand has a more state-oriented approach in the sense that it allows the normal policing and legal structures to counter white collar crime like any other crime and passes bills on the aspects of fraud and corruption (Croall, 2001). There is an awareness of a heightened level of white collar crime that have taken place in the region since the recent inflation dilemmas that have plagued the UK economy. This is why we see the hurried, yet thorough enforcement of the Bribery Bill.

When talking about the power that either government, UK and U.S., has to intervene in the business or corporate white collar crime, there seems to be a semblance of difference between the two. The UK government seems to have more power as it is involved in all stages of white collar crime and its structure. This includes the recognition of the legal and ethical dilemmas facing different white collar crimes, the counter laws or regulations needed, the policing and law enforcement bodies that need to get involved in the implementation, the overall punishments for each type of white collar crime as well as the enforcement of these punishments -- all these aspects are actively handled by the government bodies. On the other hand, the U.S. has the FBI White Collar Division to fall back on. We see the U.S. government playing the role of a silent partner whereby they are aware of all but their role primarily lies in the structuring of the laws and bills necessary to counter the white collar crimes. These laws and bills include the recognition of the different types of white collar crimes as well as the punishments for each type. The implementation of these laws and the implementation of punishments of breaking these laws then lie in the hands of the FBI Division.

White Collar Crime -- Practical Enforcement and Social Stigma in the U.S. And the UK

The overall methods of practical enforcement are different for both the countries

In fact, when talking about the overall methods of enforcement of the government to intervene in corporate white collar crimes in the U.S. And the UK, we see a stark contrast. In the U.S., as aforementioned, the FBI White Collar Crime Division is solely and completely responsible for the overall review and reflections of the white collar trends in the country. The government's role is that of support (Friedrichs, 2010). The government primarily shows this support by enforcing the bills and laws after thorough consultation from the FBI Division as well as some of the multinationals and big corporations in the region (Blumberg & Associates, 2012). Once the bills are passed and are being implemented on the legal and social levels, the government's responsibility is over. Of course, any white collar crime detected by the government or the other policing units, the case is directly forwarded to the FBI White Collar Crime Division.

In the UK, contrarily, the government is far more involved and aware aside from just passing the bills. The government joins hands with all policing agencies in charge of the different sectors in the region and understands the emerging trends of white collar crimes and thus passes the bills and laws that could counter the trends. The UK government also takes active part in the implementation of these laws as well as the punishments for the breaking of any them (Croall, 2001).