Embezzlement and the Effects on Victims and Society
For many years there have been thousands and thousands of individuals that have fallen victim to violent crimes. However, individuals are not always victim of violent crimes such as robberies, rapes, or kidnappings. In fact, individuals can become a victim of a non-violent crimes which many know as white-collar crimes. White-collar crimes was reportedly coined back in the year 1939 and is now used a wide range of frauds which are committed by business and government professionals (Federal Bureau of Investigation, n.d.). White-collar crimes additionally range from a variety of different types of crimes. White-collar crimes can be considered a very serious matters as one single scam can destroy …show more content…
For example, misappropriating funds that a person have been trusted to an account for personal use (Ray, n.d.). Many may ask what the difference between embezzling and stealing is. Simply to put it together is that embezzlement is done from the inside and it involves taking the one thing, such as money, that the individual was hired to handle and protect (Ray, n.d.). As stated above the seriousness of white-collar crimes, embezzling can have negative effects on the company or individuals that fall victim to it. When a business fall victim to this non-violent crime, it means that the business is without a doubt suffer losses in the form of money or other assets that it may have. This can cause serious consequence for smaller business who are trying to grow or to business who are in a struggle of keeping their business running. According to Dugan Lopatka, who is a certified public accountants and consultants, there are several common forms of embezzlement. The first form is embezzling cash. This is where a large amount of currency are exchanged in business such as a bar, an employee can fail to ring up a sale and pocket the cash (Lopatka, 2014). Second form is called lapping. This type of embezzlement is where a payment is received by a customer and is deposited in the account of the person that is embezzling. When an additional customer make a payment, the embezzler then records it as a payment by the first customer. The cycle then continues on and so on. Additional forms are fake refunds and kiting. Kiting, although technology has made it difficult to do, Kiting “takes advantage of the “float time” between when a company check is written and when it clears the bank account.” (Lopatka,
For many years there have been thousands and thousands of individuals that have fallen victim to violent crimes. However, individuals are not always victim of violent crimes such as robberies, rapes, or kidnappings. In fact, individuals can become a victim of a non-violent crimes which many know as white-collar crimes. White-collar crimes was reportedly coined back in the year 1939 and is now used a wide range of frauds which are committed by business and government professionals (Federal Bureau of Investigation, n.d.). White-collar crimes additionally range from a variety of different types of crimes. White-collar crimes can be considered a very serious matters as one single scam can destroy …show more content…
For example, misappropriating funds that a person have been trusted to an account for personal use (Ray, n.d.). Many may ask what the difference between embezzling and stealing is. Simply to put it together is that embezzlement is done from the inside and it involves taking the one thing, such as money, that the individual was hired to handle and protect (Ray, n.d.). As stated above the seriousness of white-collar crimes, embezzling can have negative effects on the company or individuals that fall victim to it. When a business fall victim to this non-violent crime, it means that the business is without a doubt suffer losses in the form of money or other assets that it may have. This can cause serious consequence for smaller business who are trying to grow or to business who are in a struggle of keeping their business running. According to Dugan Lopatka, who is a certified public accountants and consultants, there are several common forms of embezzlement. The first form is embezzling cash. This is where a large amount of currency are exchanged in business such as a bar, an employee can fail to ring up a sale and pocket the cash (Lopatka, 2014). Second form is called lapping. This type of embezzlement is where a payment is received by a customer and is deposited in the account of the person that is embezzling. When an additional customer make a payment, the embezzler then records it as a payment by the first customer. The cycle then continues on and so on. Additional forms are fake refunds and kiting. Kiting, although technology has made it difficult to do, Kiting “takes advantage of the “float time” between when a company check is written and when it clears the bank account.” (Lopatka,