Class Flashcards
What is corporate crime?
Actions or omissions on behalf of or by companies that are punishable by law - rarely carry prison sentences, usually is fined. Under-represented in society
What are the 4 types of corporate crime?
Offences against consumers - Sales of goods that do not meet standards [thalidomide caused birth defects]
Offences against employees - discrimination in the workplace [CAGE]
Offences against environment - air and water pollution
Financial offences - tax evasion [illegal declarations of earnings to evade tax]
What are the 2 types of white collar crime?
Corporate crime - crimes committed by individuals on behalf of the company they work for
Occupational crime - committed by employees against the company for personal gain.
How does competition between organisations lead to an increase in corporate crime?
Snider - risk-taking behaviour makes their decision making unethical - break laws to make more profit
How do punishment and corporate crime link?
When caught and punished, corporations are fined but does not act as deterant as fines are low in relation to their profit turnover
How has globalisation led to more corporate crime?
Big corporations move to countries with less legislation, economic power gives them more power than the governments of these nations.
