Social Costs of White Collar Crimes

Document Type:Essay

Subject Area:Criminology

Document 1

A white collar criminal has a place with the upper financial class, which tempts them to commit non violent crimes that are more available to them because of the opportunities that their positions affords them (Geis, 2006). These crimes are committed in the form of copyrights, fraudulent advertisements, infringement of patents, and trademarks are every now and again turn by manufacturers, industrialists, and different people of notoriety in course of their occupation with a perspective of earning immense benefits (Gottschalk, 2016). The degree of this kind of wrongdoings in a particular society is dictated by the organizational assets available to reveal, investigate, and prosecute it besides enforcing what most experts already regard as inadequate laws aimed at its control. The observed increased rates of white-collar crime, which is facilitated by the advancement in technology have resulted to social costs which are rooted from the individual professional employees and later promulgate to the rest of the organization and the society as a whole.

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In this essay, we are going to discuss the social costs that result from white collar crimes, which takes the forms of both monetary and non-monetary levels. Crimes such as underpaying workers, giving them low insurance policies have a domino effect, which is passed on to other people until it consumes the entire society. White collar crimes sometimes lead to uncontrolled pollution problems, which affects the local communities. Fraud causes victims to undergo emotional and psychological challenges due to financial losses and this may consequently affect their productivity in their workplaces. Since white collar crimes involve people in power who are expected to set a moral example and behave accordingly, the entire state of the society may start developing a sense of insecurity, low self-esteem, and loss of dignity and this may take years to resolve such feelings (Friedrichs, 2009).

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The society feels betrayed and many young people shun from pursuing white-collar employment opportunities due to the bad reputation that is exhibited by people who previously held such positions. In conclusion, the recent increase in the frequency of white collar crimes across the world has been facilitated by the advancement of technology, which has made it hard for regulatory bodies to tract the activities of the perpetrators. This has enabled perpetrators to easily engage in illegal activities for financial gains, which have had negative impacts on the wellbeing of society. The devastation caused by white-collar crime to the entire community as compared to the lone bank robbery victim is so massive that it is viewed as the biggest enemy to societal social and economic growth.

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