Chapter 17 - Corporate and White-Collar Crime

Question 1

White Collar Crime

Answer 1

Sutherland defined white-collar crime “as a crime committed by a person of respectability and high social status in the course of his occupation”.

Question 2

Occupational Crime

Answer 2

Refers to violations of the law in the course of practising a legitimate occupation.

Question 3

Organizational or Corporate Crime

Answer 3

White-collar crime committed with the support and encouragement of a formal organization and intended, at least in part, to advance the goals of the organization

Question 4

Juristic Person

Answer 4

Legal concept that corporations are liable to the same laws a natural persons. Treating corporations a individuals raises practical difficulties for legal enforcement and punishment

Question 5

Executive Disengagement

Answer 5

Custom by which lower-level employees assume that executives are best left uninformed of certain decisions and actions of employees, or the assumption that executives cannot be legally expected to have complete control over their individual staff.

Question 6

Criminogenic Market Structure

Answer 6

An economic market that is structured in such a way that it tends to produce criminal behaviour

Question 7

Ponzi Scheme

Answer 7

A fraud in which old investors are paid with the funds from new investors. When the scheme runs out of new investors the scheme collapses.