Examining the Costs and Impacts of White-Collar Crime in the U.S.

Response Journal: Articles on White-Collar Crime Student’s Name: Institution: Course: Instructor: Date: Response Journal: Articles on White-Collar Crime Tangible and intangible costs of white-collar crime by Billings, B. A., Crumbley, D. L., & Knott, C. L. (2021). White-collar crime has significant financial and nonfinancial costs to organizations, shareholders, their customers, government agencies, and the general public. The article examines the various costs incurred as a result of white collar crimes in the United States and laws that seek to prevent such crimes. It is important that the society remains vigilant to protect vulnerable targets of white collar crimes such as fraud that could have significant financial costs to victims. According to Billings et al. (2021), major costs of white-collar crimes occur after the detection of fraud during investigations and when companies pay fines and damages to victims. The majority of costs resulting from white collar crimes are associated with malpractices of executives in corporations. Measures to ensure accurate accounting and reporting practices in the United States especially in the financial sector seek to prevent the costs of white-collar crime (Payne, 2022). In response to a high rate of white-collar crime in the financial sector in the late 1990s and early 2000s, Sarbanes-Oxley Act (SOX) came into place to streamline financial reporting. The article describes the application of SOX in the investigations and conviction of John Yates in the Yates v. U.S. case. The act played a major role in defining the role that Yates played in the fraud case and the resulting conviction. While he was not found guilty of cooking books, he was found guilty of throwing a tangible item based on SOX and he spent 30 days in federal prison. Incidents of white-collar crime have played a significant role in defining the legislation on crime and investigation processes. Yates actions had a significant impact on the investigation of potential criminal behavior since he actively concealed evidence (Billings et al., 2021). There is need to ensure that actions amounting to white-collar crime lead to convictions and penalties that deter malpractices in investigations. The costs of white-collar crime to organizations and targeted victims demonstrate the need to align the legal processes with deterrence measures. It is fundamental to protect vulnerable targets of fraud by increasing oversight in the financial sector and prosecuting perpetrators of white-collar crime. Gender and white-collar crime: Convenience in target selection by Dearden, T., & Gottschalk, P. (2021). Gender differences in white-collar crime could inform legal recourse and the protection of potential victims. The selection of targets among male and female offenders in white-collar crimes differ with female offenders being more likely to target random individuals, employers, and healthcare providers. Male offenders are more likely than female offenders to target their friends, and investors in their businesses (Dearden & Gottschalk, 2021). The consideration of the effect of white-collar crime on victims is a significant factor in target selection and a potential cause for disparity in gender patterns. The theory of convenience further explains the variation in the nature of crimes among male and female offenders. Using data from Utah’s White Crime Offender Registry, Dearden & Gottschalk (2021) investigated the nature of crimes for offenders and found that females are more likely to target their workplace than male offenders. On the other hand, males target organizational targets for white-collar crime than female offenders. The article offers significant insights on patterns of white collar crime that could facilitate mitigation and legal action. Victimization plays a greater role than the relative risk assessment as demonstrated by the findings of the article. White-collar crime offenders demonstrate consideration for the effects of their actions on their victims as indicated by the variation in target selection among males and females (Dearden & Gottschalk, 2021). Consequently, while male offenders are likely to target their acquaintances and investors, females are most likely to select employers as potential victims. Gender contributes to the identification and involvement in particular white-collar crimes and should inform legislation and legal procedures. It is critical to align crime prevention with occurrence patterns and the response by the criminal justice system. The relationship between victims and offenders is a major defining factor for white-collar crime with significant differences between male and female offenders in crime and victim selection. Measures to prevent white-collar crime should include determining gender patterns and how the theory of convenience defines occurrence. Trusted chief executives in convenient white-collar crime by Gottschalk, P. (2022). Convenience play