Question

Spend 10-20 minutes looking on the web for a newspaper article that relates in some way to white-collar or corporate crime. For example, you can select an article that discusses a specific crime problem involving patterns in white-collar or corporate crimes (e.g., think pieces that explore the dynamics of financial crimes like money laundering, insider trading or stock frauds). Alternatively, you can also look at articles that focus on one person who has engaged in white-collar crime (e.g., Michael Cohen).

After you have found your article,

What's the issue/problem discussed in the article.

What do you see as the source of that issue/problem?

What can be done to solve that issue?

Answer 1

i. The problem discussed was about an Information technology giant in india that used a roundabout way to inflate the profits. So , as to save the share price from getting hammered. It also masked the company from recession by showing virtual turnover trends.

ii. The source of such problems is greed, which is to gain more with less efforts. That was something new to India and there were no such punishments then. This helped the founder to take such actions against all ethics.

iii. The government of India was very quick to react to this scam. It held many rounds of bids for the sellout of the company as a result of which the company got saved. The culprits and the top management authorities involved in the white-collared crimes got imprisonment for seven years. The best solution is that the government should audit all the major companies on a yearly basis and have very severe rules and regulations in case of any theft.