CRM 101 Lecture Notes - Lecture 9: Whistleblower, Market Manipulation, Loan Shark

• School: Ryerson University
• Department: Criminology
• Course: CRM 101
• Professor: Daniel Alati

Document Summary

Enterprise crimes: illegal acts of opportunity that involve breaking regulatory rules but not personal victimization for the purpose of financial gain. Wealthy classes use their positions for personal gain without regard to law. White-collar criminals: mainly dealt with by civil law, hidden from criminologists and society, cause high financial cost both for institutions as well as society; damage social institutions and social relations. Occupational crime: crime committed by employees for personal gain using the structural advantage provided by their employment. Cost -> much higher than street crime; hundreds of billions per year. Kpmg surveys -> sought to quantify the exact costs of white-collar crime and why they occur: studied occupational crime -> refers broadly to instances when companies are cheated by their own employees. Inflated expense accounts, false invoices, use of company supplies, cheque fraud: four opportunities for fraud. (2) too much financial authority invested in few senior people.