What the Security Manager can do to Prevent White Collar Crime

What the security manager can do to prevent white collar crime
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What the security manager can do to prevent white collar crime
Introduction
Today’s businesses are exposed to a number of external and internal crimes that cost companies and organizations considerable amounts of money. White-collar crime is undoubtedly multifaceted and complex and there no one specific explanation or theory that could exhaustively explain every form or instance of this type of crime. Even so, white collar crime can be defined as a crime committed by an individual of respect and high status as far as profession is concerned (Croall, 2001). Technology advancement and internet use has grown globally in the recent past. Most organizations today depend on computers for day-to-day tasks, storage of data as well as internet use. People have embraced the same to their homes and kids less than five years can now use computer-related gadgets. The high computer and internet use has attracted computer related crimes like hacking, phishing, child pornography, copyright infringement and fraud among others. Various white collar crimes are committed daily in the United Kingdom and other Western countries, the range of these criminal activities being only by perpetrators imagination. Common white collar crimes include money laundering, embezzlement, bribery, insurance fraud, insider trading, and tax evasion. Others are internet/computer fraud, bankruptcy fraud, counterfeiting, credit card fraud, kickbacks, antitrust violations, healthcare fraud, mail fraud, securities fraud, trade secret theft or economic espionage, public corruption, and telemarketing fraud (Price & Norris, 2009). Some of these crimes are perpetrated on small scale, for instance when people who file for liquidation bankruptcy fail to reveal their personal assets on their petition. It could also be a single fraud that may affect the lives of many people for instance investment frauds that securities brokers may perpetrate. Those who mostly perpetrate this form of crime include managers, CEOs, executives or high-level staff members in some kind of organization or industry (Price & Norris, 2009). A lot of white collar crimes are not easy to prosecute given that those who perpetrate the crime employ highly sophisticated technological means in concealing their mostly intricate transactions (Israel, 2011). This paper critically examines what the security manager can do in order to prevent white collar crime. Scholarly sources including journal articles would be used in examining this subject matter.
In essence, white-collar crime is understood as the offenses intended to generate fiscal gain with the use of some kind of trickery and deception. In most instances, this form of crime is done by individuals who are in the corporate world who, due to their job position, can gain access to significant amounts of money that belongs to other people (Price & Norris, 2009). White-collar crime, in essence, never involves drug-related, violent, or activities that are overtly illicit. Those who perpetrate this crime are commonly involved in otherwise legal business organizations and might hold respectable ranks within the community before their fraudule...