White Collar Crime in the U.S.

White collar crime assumes many manifestations. In this research, three forms of white collar crime are examined, as they are representative of the overall problem. The three forms of white collar crime considered are embezzlement, money laundering, and insider stock trading.

Embezzlement is the "unlawful, fradulent taking of money or property by a person to whom said money or property had been entrusted" (Rothenberg, 1985, p. 110). Embezzlement is a criminal offense, and, as the term is most often used, it is "synonymous with misappropriation of funds" (Rothenberg, 1985, p. 110).

The stereotypical conception of an embezzler is either that of an individual who "skims" from cash collections or that of an individual who is able to manipulate the "books"

1 2in a manual record keeping system to conceal checks fraudu lently issued to one's self (Richter, 1985). Neither of these stereotypical situations is of particular relevance in the contemporary large business environment. First, in the large contemporary busine

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xes in the United States, to conceal bribery, and for a host of other purposes (Weilant, 1984). In the conduct of these latter activities, the monies being laundered may have been acquired by legitimate means. The process of money laundering is, in and of itself, an illegal activity. The enforcement of laws concerning money laundering, however, is difficult for a number of legitimate reasons. Enforcement, to a great extent, relies on the com pliance of banking institutions with the federal currency transactions reporting laws. When a banking institution or one of its trusted employees is involved in a money laundering scheme or transaction, the scheme or transaction may escape governmental notice for a long period of time (or forever). Further, in such situations, the gathering of necessary information for enforcement is difficult, even when government officers become aware of such schemes or transactions. Enforcement of laws concerning money laundering is made difficult by the ways in which American banking statutes are written. Consistent with the constitutional protection of legitimate civil liberties in the United States, American banking statutes often aid and abet the money launderers, by making it difficult for
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Some common words found in the essay are:
Bar Association, LAUNDERING Money, Mafia Trial, United American, EMBEZZLEMENT Embezzlement, Supreme Court, United White, Clark Gottfried, Foster Winans, Major Insider, money laundering, white collar crime, computer crime, collar crime, white collar, economic power, laundering activities, criminal activity, money laundering activities, contemporary business, insider trading, business week, monies derived illegal, money expended efforts, board february 1986,
Approximate Word count = 2450
Approximate Pages = 10 (250 words per page)

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