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25 Cards in this Set
- Front
- Back
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actual authority
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The authority a corporation knowingly gives to an employee.
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alien conspiracy theory
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The view that organized crime was imported to the United States by Europeans and that crime cartels have a policy of restricting their membership to people of their own ethnic background.
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apparent authority
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Authority that a third party, like a customer, reasonably believes the agent has to perform the act in question.
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bucketing
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A form of stockbroker chiseling in which brokers skim customer trading profits by falsifying trade information.
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churning
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A white-collar crime in which a stockbroker makes repeated trades to fraudulently increase his or her commissions.
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commercial theft
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Business theft that is part of the criminal law; without such laws the free enterprise system could not exist.
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corporate crime
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White-collar crime involving a legal violation by a corporate entity, such as price fixing, restraint of trade, or hazardous waste dumping.
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division of markets
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Firms divide a region into territories, and each firm agrees not to compete in the others' territories.
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exploitation (of criminals)
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Using others to commit crimes: for example, as contract killers or drug runners.
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forfeiture
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The seizure of personal property by the state as a civil or criminal penalty.
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front running
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A form of stockbroker chiseling in which brokers place personal orders ahead of a large order from a customer to profit from the market effects of the trade.
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group boycott
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A company's refusal to do business with retail stores that do not comply with its rules or desires.
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influence peddling
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Using an institutional position to grant favors and sell information to which their coconspirators are not entitled.
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insider trading
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Illegal buying of stock in a company based on information provided by someone who has a fiduciary interest in the company, such as an employee or an attorney or accountant retained by the firm. Federal laws and the rules of the Securities and Exchange Commission require that all profits from such trading be returned and provide for both fines and a prison sentence.
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La Cosa Nostra
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A national syndicate of 25 or so Italian-dominated crime families who control crime in distinct geographic areas.
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Mafia
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A criminal society that originated in Sicily, Italy, and is believed to control racketeering in the United States.
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organizational crime
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Crime that involves large corporations and their efforts to control the marketplace and earn huge profits through unlawful bidding, unfair advertising, monopolistic practices, or other illegal means.
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organized crime
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Illegal activities of people and organizations whose acknowledged purpose is profit through illegitimate business enterprise.
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pilferage
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Theft by employees through stealth or deception.
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predation
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Direct forms of physical violence, such as robbery, sexual assault, or other forms of physical violence.
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price-fixing
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A conspiracy to set and control the price of a necessary commodity.
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Racketeer Influenced and Corrupt Organizations Act (RICO)
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Federal legislation that enables prosecutors to bring additional criminal or civil charges against people whose multiple criminal acts constitute a conspiracy. RICO features monetary penalties that allow the government to confiscate all profits derived from criminal activities. Originally intended to be used against organized criminals, RICO has also been used against white-collar criminals.
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Sherman Antitrust Act
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Law that subjects to criminal or civil sanctions any person who shall make any contract or engage in any combination or conspiracy in restraint of interstate commerce.
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tying arrangement
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A corporation requires customers of one of its services to use other services it offers.
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white-collar crime
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Illegal acts that capitalize on a person's status in the marketplace. White-collar crimes can involve theft, embezzlement, fraud, market manipulation, restraint of trade, and false advertising.
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