Question

What are the principal objectives of a theory of white collar crime? Identify and discuss some of the main underlying assumptions for any such theory. What are the different answers to the question of what we want to explain with regard to white collar crime?

Answer 1

Objectives of theory of white collar crime:

What is white collar crime?

Unlike crimes such as murder, kidnapping, abusing etc., white collar crimes involves committing of illegal activities by professionals, businessmen, politicians involving financial mishandling or committing certain illegal activities to get undue financial advantage. It usually take the form of money laundering, forgery, corruption etc.,

Principal Objectives of theory of White collar crime:

Why we need to study about white collar crimes? What are the objectives of studying about such crimes and developing theories about the crimes:

They are;

1. White collar crimes negatively impact the society at large in a bigger magnitude. Almost all innocent public is affected by such crimes. Hence it is important to study about such crimes in order to understand and prevent them.
2. To study about the behavior of white collar criminals, so that the patterns of the crime can be understood.
3. As the white collar crimes are serious problems of the society, it is essential to develop mechanisms to prevent and safeguard the society. It is also essential to develop necessary policies to effectively eradicate occurrence of such crimes. For all these objectives, it is essential to study the crimes.

Underlying assumptions for such theory:

The assumptions behind white collar theory are based on basic human nature, general characteristics of the society and the theories developed are based on the following underlying assumptions;

1. That the offenders are influential and more resourceful than common people.
2. That human are more prone to commit financial crimes for self interest, particularly when they have access to resources.
3. Crimes occur when there is conflict of interest

What we want to explain with regard to white collar crime?

As long as the basic characters of a normal human is the combination of greed, power, the white collar crimes will exist . Hence it is in the best interest of the society at large, to develop systems and processes/policies to keep checks and balances in place, while empowering the persons with power & access to resources. Hence the theories are developed, a conceptual study is made to understand the behavioural aspect of the humans so as to develop strategies to safeguard the society from the menace of white collar crimes.