White Collar And Corporate Crime Essay

Their activities and members are secretive in nature because their success entirely depends on the ability to evade detection by law enforcers.

In contrast, corporate crime such as price fixing may be committed openly in the guise of a legitimate activity, using fraud and deception (Bologna & Shaw, 1997, p. While financial gain is the end result in both corporate and organized crime, they both often use different means to achieve their goals.

Likewise, companies engage in fraud in situations when keeping to the book rules will minimize profits, or lead to losses and, eventually, bankruptcy.

Without money, the incentive of taking the risk will be absent, thereby eliminating the need for undertaking a venture that, if caught, is punishable by the law.

Thus, the two forms of crime (white-collar and corporate) overlap each other because they all happen within similar environments, in which the incentives are high for an individual or group of individuals to engage in bribery, money laundering, insider trading, forgery, and embezzlement.

As in organized crime, the market is similar in both cases, since “the same market forces and factors that apply to legitimate (corporate) business markets are also mirrored in crime markets” (Dean, et al., 2010, p. This paper discusses the similarities and differences between corporate and organized crime.

However, organized crime is so dynamic that it can involve almost any illegal undertaking from street drug peddling, to murders and kidnappings for ransom.

Consequently, corporate crime requires may require exceptional planning and organizational skills as well as extensive networks of participants, and this is what enables organized crime mobs to be versatile and dynamic in their activities (Kirby & Penna, 2010, p.

195) Additionally, informal hierarchies exist in organized crime, whereby members, usually family members, occupy ranks that determine their duties.

Mafias, such as the Sicilian Nosa Costra in Italy are the perfect example of organized crime.


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