White Collar Crime The Effects and Punishments - 5087 Words

White Collar crime has been a hot topic since the 20th century. Edwin Sutherland introduced the term at the fourth annual meeting of the Sociological Association. At this meeting he explained who this type of criminal is and what the criminal does for a living. Sutherland developed a theory to try and fit this type of criminal. The theory is differential association. There are four different pieces of evidence to understand the theory. White collar crime ranges from Embezzlement to Mortgage Fraud. This paper will explain several incidents which are involved with white collar crime and how it hurts many individuals from families to businesses. The sentencing guidelines help convict criminals. The Sarbanes-Oxley Act helped add on top of the†¦show more content†¦Ã¢â‚¬ ¦ The New York Times in 1931 reported four cases of embezzlement in the United States with a loss of more than $1 million each and a combined loss of $9 million. Although a million dollar burglar or robber is pra ctically unheard of, the million dollar embezzler is a small-fry among white collar criminals. The estimated loss to investors in one investment trust from 1929 to 1935 was $580 million†¦ 2. This financial loss from white collar crime, great as it is, is less important than the damage to social relations. White collar crimes violate trust and therefore create distrust, and this lowers social morale and produces social disorganization on a large scale. * White Collar Crime: The Uncut Version, 1983 One can conclude that Sutherland says white collar crime is the most dangerous type of crime because it financially hurts a society. The statistics provided by Sutherland was of embezzlers, white collar crime creates morale conflicts within a society and social disorganization; it is also unethical in day to day business practices. Due to the threats that white collar crime creates in a society, Sutherland was able to reject previous criminology theories of psychopathological or economic factors (i.e., being from lower class and poverty, broken home) that explain/justify criminal behavior. Sutherland created the differential association theory, which was to include all crimes from all classes, lower class and upper class society.Show MoreRelatedStreet Crime And White Collar Crimes766 Words   |  4 Pageseconomic crimes goes up as well. Either it’s the street crimes or the white-collar crimes/corporate crimes but which of is a wide spread crime. Street crime and white-collar crimes affect the people negatively. You would be hurting yourself and others. Even though, street crimes are more violent then the white-collar. White collar effect you devastating you finacially and emotionally. Street crimes are more generally physical effect. 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