White Collar And Organized Crimes Flashcards
Organized crime
Illegal activities of people and organizations whose acknowledged purpose is profit through illegitimate business enterprise
White collar crime
Illegal acts that may include theft embezzlement fraud market manipulation also known as commercial / business crime or economic offences
Enterprise
Taking risks for profit in the marketplace
Corporate crime
A legal offence such as a price fixing restraint of trade or hazardous waste dumping committed by a corporate entity ton improve its market share or profitability
Chiselling
Regularly cheating an organization it’s customers or both
Churning
A form of stockbroker chiselling involving repeated excessive and unnecessary buying and selling of stock
Front running
A form of stock broker chiselling in which brokers place personal orders ahead of a large customers order to profit from the market effects of the trade
Bucketing
A form of stockbroker chiselling in which brokers skim customer trading profits by falsifying trade information
Insider trading
Buying and selling securities based on business information derived from a position of trust and not available to the general public
Pilferage
Employee theft of company property
Bank fraud
To obtain money or property from a financial institution by false pretences as by forgery or misrepresentation.
Restraint of trade
A contract of conspiracy designed to stifle competition create a monopoly artificially maintain prices or otherwise interfere with free marketing competition
Price fixing
A conspiracy to set and control the price of a necessary commodity
Virus
A computer program that disrupts or destroys existing programs and networks
Corporate culture view
The view that some business organizations promote white collar crimes by maintaining a business climate that stresses profit over fair play
Self control view
The view that white collar crime, is a product of low self control
Compliance strategies
Fostering law conformity cooperation and self policing in the business community through the use of economic incentives and administrative agencies
Deterrence strategies
Detecting criminal violations determining who is responsible and penalizing the offenders to deter future violations
Mafia
Criminal society tat originate in Sicily Italy and is believed to control racketeering in the us
Alien conspiracy theory
Organized crime in the us is controlled by the mafia centrally coordinated by a national committee that settles disputes dictates policy and assigns territory
La cosa nostra
A us syndicate of 25 or so Italian dominated crime families who control crime in distinct geographic areas
