Question

What have some of the principle disincentives for local police involvement with white collar crime been? What state and federal enforcement agencies have played a role in the investigation of white collar crime?

Answer 1

White Collar crimes are offenses committed by the Corparate officials.WCC involves risks that are different to regular offeenders because they are committed by the officials within the Corporate organisations. Examples of WCC are Illegal Pricing, adulteration of products, etc.

Priciple Discentives for Local Police involvement are as follows :

1 Local police lack resources to investigate White Collar crimes(WCC)

2 one of the major discetives to local police is that they do not have jurisdiction and expertise to address complex WCC.

3 Training of police officers is for conventional crimes therefore they are more attracted towards street crimes than to white collar crimes.

4 WCC require greater investment of time with a lower probability of successful solution , than convemtional crimes.

5 Agencies like SEC, FBI very rarely refer WCC cases to local police officers for investigation

The responsibility for investigating and prosecuting white collar crime falls to local, state and federal law enforcement agencies. Local and state agencies have jurisdiction over and investigate and prosecute state and local white collar crimes. Federal agencies have jurisdiction over and investigate and prosecute federal white collar crimes.

Following are the few Federal agencies that investigate White Collar Crime:

1 US Department of Justice (DOJ): It investigates Computer crimes, Securities fraud, Money Laundering, Organized Crimes.

2 Federal Bureau of Investigation(FBI) : It is the agency established for investigation of federal laws including money laundering and Cyber Crimes.

3 Securities and Exchange Commission (SEC) :Regulate and police the securities market. It also serves as a repository and examiner for registration statements.

4 Occupational Safety and Health Administration (OSHA) : OSHA is authorized to develop and enforce procedures and standards for workplace health and safety and to compensate for limitations of alternative remedies such as worker's compensation and criminal prosecutions