White-Collar Crimes

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How far are willing to go to achieve them?

White-Collar Crimes

References

Benson, M. L., & Manchak, S. M. (2014). The Psychology of White-Collar Offending. Oxford

Handbooks Online. Retrieved from http://www.oxfordhandbooks.com/view/10.1093/oxfordhb/9780199935383.001.0001/oxfordhb-9780199935383-e-008#oxfordhb-9780199935383-e-008-bibItem-4

Gaille, B. (2014). 34 Surprising White Collar Crime Statistics. Brandon Gaille: Marketing

Expert & Blog Master. Retrieved from http://brandongaille.com/34-surprising-white-collar-crimes-statistics/

Hockenbury, S. E., Nolan, S. A., & Hockenbury, D. H. (2016). Discovering Psychology (7th ed.).

New York, NY: Worth Publishers.

Yareli Sanchez

Kubasek, N., Browne, M. N., Herron, D. J., Dhooge, L.J., Barkacs, L. (2016). Dynamic Business

Law: The Essentials. (3rd ed.). New York, NY: McGraw-Hill Education.

Marks, J. T. (2012). A Matter of Ethics: Understanding the Mind of a White-Collar Criminal.

Soltes, E. (2016). Why They Do It: Inside the Mind of the White-Collar Criminal.

Financial Executive, 28(9), 31-34. Retrieved form Ebscohost.com.

New York, NY: PublicAffairs.

Identifying White-Collar Crimes

Behavioral

Behavioral Elements

• Irrational spending due to lack of moral compass
• Deception-often using extreme words
• Triple-C

-Confident

-Clever

-Creative

&

Environmental

Weak management- top management doesn't enforce ethics

Vulnerable culture- whistle blowing isn't encourage or often frowned upon

Compensation structures- loose links between compensation and ethics

Environmental

Elements

Personality

Often referred to as

Psychopaths

They have the tendency to deceive and manipulate others to their advantage.

Antisocial

The key to the criminaloids is not evil impulse but moral insensibility …. Nature has not foredoomed them to evil by a double dose of lust, cruelty, malice, greed, or jealousy. They are not degenerates tormented by monstrous cravings. They want nothing more than we all want—money, power, and consideration—in a word, success; but they are in a hurry and they are not particular as to the means”

-E. A. Ross

According to anecdotal research, high-status white-collar offenders have a sense of self-regard that crosses well beyond a healthy ego from outright narcissism.

sense of superiority and arrogance

Cognitive Processes

RECOMMENDATIONS

Deal with the way they shape and interpret their actions

Neutralization is often used to "free" themselves from moral constraints and believing their actions were acceptable.

Conformity

3 Techniques used

• Denial
• Minimization
• Justification

In order to gain acceptance, we conform, or “adjust our opinions, judgements, or behaviors to match other people.

Why they do it?

For every 100, 000 people in the U.S., there are 5,317 arrests related to white collar crime.

ENRON

Bribery

Insider trading

Embezzlement

Mail Frauds

Computer Crimes

Prevention/ Reduction

of White-Crimes

Business Ethics

A form of applied ethics or professional ethics that examines ethical principles and moral problems that arise in a business environment.

Financial greed?

Financial desperation?

Right from Wrong

• internal and external control system

ex. audit conference

• report crime procedures

NOT EXACTLY....