White Collar Crimes

There are a ton of crimes throughout today society, but none quit as prevalent as white-collar crimes. According to Adler, Mueller, & Laufer, white-collar crimes are defined as “a violation of the law committed by a person or group of persons in the course of an otherwise respected and legitimate occupation or business enterprise (Adler, Mueller, & Laufer, 2012). Although, white-collar crimes are everywhere you look in today’s new and cooperate America, they are not new to history. White-collar crime date all the way back to ancient Greece when public officials would break the law by purchasing land that was already slated to be bought by the government (Adler et al., 2012). Eventually by the 1890’s the United States Congress enacted the Sherman Antitrust Act, which made it illegal for corporations engaged practices that would monopolize the corporate market. In 1940 Edwin H. Sutherland officially coined the term “white-collar crime” and was the first scholar to officially define it as crime “committed by a person of respectability and high social status in the course of his occupation (Adler et al., 2012). These crimes can be committed by individuals or huge corporations and there are many different ones such as Securities-related crimes, Bankruptcy fraud and Fraud against the government Consumer fraud just to name a few. …show more content…
Insider trading is another popular white-collar crime and it is where material and nonpublic financial information is uses to gain an unfair advantage when trading securities (Adler et al., 2012). Bankruptcy fraud is any method used to take advantage of loopholes in the bankruptcy laws. Some of the most common frauds are the “similar-name” scam, the “old-company” scam, the “new-company” technique, and the “successful-business” scam according to Adler, Mueller, &