White Collar and Organized Crime

Question 1

What is White Collar Crime

Answer 1

Violations of the criminal law committed by persons of respectability and high social status in the course of their occupation.

Question 2

What is the chief criterion for a crime to be a crime

Answer 2

It occurs as part of, or a deviation from, the violator’s occupational role.

Question 3

Are White Collar crime far less likely to be investigated, arrested, or prosecuted than other types of offenders

Answer 3

True

Question 4

Occupational Crime can be described as

Answer 4

Any act punishable by law that is committed through opportunity created in the course of an occupation which is legal.

Question 5

Occupational Crime includes

Answer 5

Job-related violations of both white and blue collar workers

Question 6

What is the cost of White Collar Crime per year

Answer 6

300 Billion Dollars/ Yr

Question 7

Is corporate crime is a form of organized crime

Answer 7

Yes

Question 8

Corporate Crime

Answer 8

” A violation of a criminal statue either by a corporate entity or by its executives, employees, or agents acting on behalf of and for the benefit of the corporation, partnership, or other form of business entity”
(PRIOR KNOWLEDGE: CAR DEFECTS, PRICE FIXING, AND INSIDER TRADING SECRETS)
(CIVIL AND CRIMINAL PENALTIES)

Question 9

NY Central and Hudson River Railroad Co. V. United States

Answer 9

Supreme Court ruled that criminal acts and intentions of a company’s employees can extend to the company itself.

Question 10

Corporate Fraud

Answer 10

Misuse of corporate property for personal gain

Question 11

Securities and Commodities Fraud

Answer 11

Crimes such as stock-market manipulation and Ponzi schemes

Question 12

Health Care Fraud

Answer 12

Fraudulent billings to health care programs

Question 13

Mortgage Fraud

Answer 13

Fraud involving sub prime mortgage-lending companies

Question 14

Insurance Fraud

Answer 14

Fraudulent Insurance claims

Question 15

Mass Marketing Fraud

Answer 15

Any fraud connected with communications media

Question 16

Environmental Crimes are

Answer 16

Violation of the criminal law that, although typically committed by business or business official, may also be committed by other individuals or organizational entities and that damage some protected or otherwise significant aspect of natural environment.
(INTENTIONAL OR NEGLIGENT POLLUTION: EXXON AND BP OIL SPILL)

Question 17

11* Terrorism and White Collar Crime

Answer 17

Terrorist activities frequently involve some form of white collar crime because terrorist need money for daily living expenses.

Question 18

Edwin Sutherland stated that

Answer 18

“White collar crime is learned direct and indirect association with those who already practice the behavior”

Question 19

Culture Conflict Theory

Answer 19

Sociological perspective on crime that suggests that the root cause of criminality can be found in clash of values between variously socialized groups over what is acceptable or proper behavior

Question 20

What are some reasons of White-Collar crimes often difficult to investigate and prosecute for a number of reasons

Answer 20

1) White-Collar criminals are better educated
2) White Collar criminals are better able to conceal their offenses
3) Often the evidence involved is only understandable to financial or legal experts and can be difficult for jurors to understand
4) Business executives are often able to hire excellent defense attorneys

Question 21

Corporate Fraud Task Force

Answer 21

A U.S department of justice organization created by George W. Bush to investigate corporate fraud.

Question 22

The Corporate Fraud Task Force

Answer 22

Has been superseded by the Obama’s administration Financial Fraud Enforcement Task Force.

Question 23

Financial Fraud Enforcement Task Force

Answer 23

An organization created by Obama administration to combat financial fraud

Question 24

Sarbanes- Oxley Act

Answer 24

A federal law that stiff penalties for corporate wrongdoings.
-Has been called the most far reaching reform of U.S business practices.-

Question 25

Organized Crime

Answer 25

Unlawful activities of members of highly organized, disciplined association engaged in supplying illegal goods and service, including prostitution, gambling, loan sharking, narcotics, and labor racketeering.

Question 26

MAFIA

Answer 26

• *Late 19th-Early 20th century: secret societies in Italy**

* *In the US: Quasi-Police Organization

Question 27

A MAFIA can be defined as

Answer 27

another name for Sicilian organized crime.

Question 28

La Cosa Nostra

Answer 28

Literally, “our thing”

A criminal organization of Sicilian origin

Question 29

Ethnic Succession

Answer 29

The continuing process whereby one immigrant or ethnic group succeeds another by assuming its position in society.

Question 30

Italy/Sicily: Developed what skills

Answer 30

to manufacture low cost, high proof, un-taxed alcohol

Question 31

The FBI

Answer 31

Lists sports bribery as part of their organized crime

Question 32

Criminal Enterprise

Answer 32

AA group of individuals with an identifiable hierarchy, and extensive supporting networks, engaged in significant criminal activity.
Used interchangeably with organized crime.

Question 33

Transnational Organized Crime

Answer 33

Unlawful activity undertaken and supported by organized criminal groups operating across national boundaries

Question 34

Hobbs Act

Answer 34

The first federal legislation aimed specifically at curtailing the activities of organized crime.

Question 35

Racketeer-Influenced and Corrupt Organization or (RICO) Act

Answer 35

A statue that was part of the federal Organized Crime Control Act of 1970 and is intended to combat criminal conspiracies

Question 36

Asset Forfeiture

Answer 36

A type of punishment provided under RICO

The authorized seizure of money, negotiable instruments, securities, or other things of value