White Collar Crime

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White-collar crimes have become a part of everyday news lately, with more high profile stories of fraudulent behavior filling the headlines. A white-collar crime is considered a non-violent crime committed by someone that possesses respectability with a high social status in the occupation held. Due to the resources available to these sophisticated criminals, the criminal activity is often hard to prosecute. In the past, white-collar crimes were not as seriously penalized as a “street crime”, carrying light fines and penalties.

The Media did not used to cover white-collar crime stories as extensively as a “street crime” was covered because there used to be a notion that white-collar crimes were not real criminal behaviors, but the recent events of white-collar crimes involving key players of large corporations have changed this. Now, officials are trying to better enforce white-collar crime laws with penalties that are stricter. The FBI has estimated white-collar crimes to cost the U.S. over $300 billion every year. In the past there have been little reason for individuals and corporations to be afraid of white-collar crimes because they were rarely prosecuted, but now the government is pushing to put an end to the illegitimate practices.