Exam 7: Property and White-Collar Victimization

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One type of white-collar crime is embezzlement, which involves the theft or misappropriation of funds or assets by a person entrusted with them. This can occur in a variety of settings, such as corporate finance, government agencies, or non-profit organizations.

Risk factors for embezzlement include access to financial resources, lack of oversight or internal controls, and financial pressure or opportunity. For example, an employee with access to company funds and minimal oversight may be more likely to commit embezzlement if they are experiencing financial difficulties or feel they can get away with it.

These risk factors provide the opportunity for victimization to occur because they create an environment where an individual can exploit their position of trust and access to funds without detection. Without proper oversight and internal controls, it becomes easier for someone to manipulate financial records and divert funds for their own benefit. Additionally, financial pressure or opportunity can lead individuals to rationalize their actions and justify the theft of funds as a means to alleviate their own financial stress.

Overall, the risk factors for embezzlement create an environment where individuals can take advantage of their access to funds and lack of oversight, leading to the victimization of the organization and its stakeholders. Implementing strong internal controls, regular audits, and promoting a culture of transparency and accountability can help mitigate these risk factors and reduce the opportunity for embezzlement to occur.

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White-collar crime can be defined in two ways: offender-based and offense-based.

Offender-based definition: This definition focuses on the characteristics of the individuals who commit white-collar crimes. It refers to non-violent crimes that are committed by individuals or organizations in positions of trust and authority, typically in a professional or business setting. Offender-based white-collar crimes are often committed for financial gain and involve deception, fraud, or manipulation. Examples of offender-based white-collar crimes include embezzlement, insider trading, and bribery.

Offense-based definition: This definition focuses on the nature of the crimes themselves, regardless of who commits them. Offense-based white-collar crimes are typically non-violent and financially motivated, involving deceit, concealment, or violation of trust. These crimes are often committed in the context of business or professional activities. Examples of offense-based white-collar crimes include securities fraud, money laundering, and tax evasion.

The offenses considered white-collar crime differ depending on the definition used. Under the offender-based definition, the focus is on the individuals or organizations committing the crimes, while the offense-based definition focuses on the nature of the crimes themselves. This means that some offenses, such as embezzlement, may be considered white-collar crimes under both definitions, while others, such as securities fraud, may only be considered white-collar crimes under the offense-based definition.

In conclusion, white-collar crime can be defined based on the characteristics of the offenders or the nature of the offenses. Both definitions encompass non-violent, financially motivated crimes that are typically committed in professional or business settings. Examples of white-collar crimes include embezzlement, insider trading, securities fraud, money laundering, bribery, and tax evasion.