White Collar Crime Essay

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And a common federal tactic, so-called “deferred prosecution,” is in effect a “get out of jail free” card for executives, says the jurist.

Although the public might like to see accused executives wind up behind bars, they don’t because the U. Department of Justice finds it easier to prosecute corporations instead of the people who run them, he says. Rakoff’s work as a prosecutor is covered in Jesse Eisinger’s recently released book .

It is no longer necessary to argue for the importance of white-collar crime.

Its devastating financial and physical effects are obvious.

These theories address how crime opportunities are formed by immediate environments and then discovered and evaluated by potential offenders.

We demonstrate that they can also be used to uncover how specific forms of white-collar crimes are committed and help structure analyses of the underlying opportunity structures associated with these offenses.Rakoff says he feels it is part of a federal judge’s role to educate the public and legislators about the need to rethink the way white-collar crime is prosecuted and punished.Until the late 1990s, the United States, along with most of the developed world, prosecuted individuals — not corporations — in cases of white-collar crime.They would have paid any amount of money, done anything to avoid going to prison.So prison does have a major deterrent effect,” he says.Rakoff, a senior judge on the bench of the United States District Court for the Southern District of New York.Even large fines and bad publicity are often viewed as a cost of doing business rather than a deterrent for companies that break the law. Wiley Online Library requires cookies for authentication and use of other site features; therefore, cookies must be enabled to browse the site.Detailed information on how Wiley uses cookies can be found in our Privacy Policy.That is, we must identify the features of the settings that allow the crime to occur.Three major theories are reviewed here that can help in this task: routine activity theory, crime pattern theory, and situational crime prevention theory.

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