White Collar Crime

This paper is the analysis of the problem of white collar crime and its future evolution and perspectives of prevention. It intends to show that white collar crime is the outrage against the society. First, this essay reveals the future of these crimes and the context that is favorable for their increase. Moreover, it suggests what kinds of white collar crime can become more numerous. Second, this paper analyzes what kinds of white collar crime will decrease in the future. Furthermore, it intends to predict the types of white collar crime that can emerge over the next century. Third, this paper tries to prove that responses to white collar crime will be new to deal with the problem. It is based on the Bernie Madoff Case as the example of white collar crime. Thus, the final part of the paper suggests possible responses to this case.

The number of white collar crimes increases in the world each year, causing billions of dollars of loss. The most common white collar crimes are money laundering, identity theft, and counterfeiting. It means that the markets need more legal regulations to restrict the probability of committing a white collar crime and make businesspersons conduct their business honestly. The main challenge is that white collar crimes are diverse and penetrate into different areas. They can be policing, enterprise, governmental, state-corporate, occupational, and corporate. Thus, there is a necessity to find the ways to prevent their increase in the future. Consequently, white collar crimes should be regarded as the outrage against the society, and those who commit them should be punished severely to decrease the probability of crimes in the future.

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Future of White Collar Crimes

According to Friedrichs (2009), white collar people are trusted criminals as it is difficult to see violence and financial manipulations in their actions. It means that the future of white collar crime should have the following distinct directions: the way it is committed and the way the humanity combats this crime. The legal context is favorable for the emergence of new white collar crimes, which can be seen in the Bernie Madoff Case (United States v. Bernard L. Madoff, 2009). Thus, the evolution of techniques used by white collar criminals will result in the emergence of new cases and scenarios that are difficult for the investigation. For example, the Bernie Madoff Case demonstrates that business has many issues related to investments and transparency of funds (United States v. Bernard L. Madoff, 2009). Consequently, it is a wonderful ground for future white collar crimes as ambiguity in business confuses and deceives other stakeholders. Moreover, money laundering is one of the most challenging issues, and future crime fighters do not have the weapon against it. It means that they should also be innovative and apply the latest techniques to track information quickly. It is obvious that the future of white collar crimes is preconditioned by the development of new techniques and the common interest of both stakeholders and crime fighters in the investigation.

The Rise of White Collar Crimes

It is obvious that the Bernie Madoff Case will not be a single crime related to fabrication and fraud. Moreover, occupational and corporate crimes can increase because legal regulations are unable to control and monitor all organizations and companies and prevent the rise of white collar crimes. The absence of ethical decision making, as well as the lack of transparency and disclosure norms, will only contribute to the increase of the cases of medical, legal, academic, and employee crimes. Another driving force of white collar crimes is a victim who is afraid to report them, hiding the necessary information. White collar crimes are deviant, unethical, and illegal activities of respectable individuals and institutions (Friedrichs, 2009). Thus, victims who fail to demonstrate their moral duty to inform the police about cases and the enormous focus of criminology on street crimes are responsible for the rise of medical, legal, and employee crimes, among others (Friedrichs, 2009). The intensive competition between business organizations and companies can also lead to bribery and fraud committed for the purpose of financial gain (Cliff & Desilets, 2014). As the society is technologically advanced, the increased use of computers and other technologies will also result in numerous cases of white collar crimes.

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The Decrease of Certain White Collar Crimes

There is the probability of the decrease of bank white collar crimes as this area is the most corrupted and full of briberies, and there are many authorities that check them regularly. Moreover, many financial establishments take care of their image and reputation in the market. Thus, they are afraid of such public judgment and discussion like the investment company Bernard L. Madoff Investment Securities, LLC has undergone (United States v. Bernard L. Madoff, 2009). It is necessary to mention that many organizations apply the situational approach to decrease the number of white collar crimes and reduce any probability of fraud. For example, the fraud at Enron might have been avoided if Arthur Andersen had separated consultants from auditors. It means that the number of every type of white collar crime can be decreased (Friedrichs, 2009). The main thing is to secure compliance and sanctions that will oblige all participants to bear criminal responsibility for unethical activities and treat white collar criminals the same as blue collar criminals. The decrease of any type of white collar crime is possible if there is the collaboration and cooperation of individuals, institutions, and police in the detection and punishment of unethical activities.

New Forms of White Collar Crimes

Over the next century, there can be new forms of white collar crimes as globalization and modern technologies make criminal activity harder to detect, easier to commit, and more common and lucrative. They can become more organized as traditional crime groups can become more sophisticated and skillful in corrupting the legal economy. Since changes in the methods and practices of committing profit-driven crimes are expected, such form of white collar crimes like market-based crime can emerge (Friedrichs, 2009). Moreover, the governments can use criminal law to control private behavior and apply this law inconsistently. Furthermore, taxation, regulation, and prohibition can drive illegal profits and the emergence of new profit-based crimes. There can be changes in the way crimes are conducted and organized (Cliff & Desilets, 2014). Consequently, defining white collar crime, it is not necessary to restrict it to crimes committed by rich people with the objective of fabricating financial operations. New forms of white collar crime are related to corporate and professional malfeasance, any kind of fraud, and cyber-attacks with the involvement of innovative technologies.

Responses to White Collar Crimes

Responses to white collar crimes will not remain largely unchanged as the globalization and innovative technologies presuppose not only changes in their forms but also the improvement of techniques and methods to address them. Thus, new responses to white collar crimes are inevitable if the country wants to avoid their harmful impact on the economy. It is necessary to pass new laws and statutes that will presuppose more criminal responsibility for any kind of fraud. Moreover, white collar crimes should be regarded on the equal terms with street crimes as they are also based on violence for the sake of enrichment. White collar crime fighters should look for new responses to decrease their number. First, they should be sensitive and progressive, applying the latest devices to detect the cases of fraud. Second, they should penetrate into all areas as the cases of white collar crime can happen anywhere, ranging from medicine to education (Cliff & Desilets, 2014). Furthermore, changes in the law enforcement system are necessary as it is biased and neglects crimes committed by the elite. Finally, such countermeasures like criminal prosecution and punishment, administrative justice, civil lawsuits, self-policing, and public shaming should bear practical value and be applied to every white collar criminal.

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Responses to the Bernie Madoff Case

Sentencing to 150 years in prison and public shaming were the proper responses to the Bernie Madoff Case (United States v. Bernard L. Madoff, 2009). However, the problem is that investors have lost their money, namely $50 billion dollars. It means that fraud has not been uncovered in a full measure. Thus, the court should oblige the Madoffs family to return money to investors and pay a penalty for the theft from employee benefit plan, false filings with the Exchange Commission and the United States Securities, perjury, false statements, money laundering, as well as wire, mail, investment, and securities fraud (United States v. Bernard L. Madoff, 2009). Moreover, it is necessary to punish those who helped him to realize all his illegal and unethical activities. They should at least pay penalty to raise their awareness of the seriousness of this crime. The main challenge of this case is that a white collar criminal did not admit that he was guilty in a full measure, which was the sign that white collar crimes would increase, especially among those who worked, cooperated, and collaborated with him.


White collar crimes should be regarded as the outrage against the society because they have a negative impact on the economy, give rise to other crimes, and presuppose the deception of people and financial manipulations. Moreover, they have the future since innovative techniques and globalization drive them. People who commit these crimes should be punished severely with the application of criminal prosecution and punishment, administrative justice, civil lawsuits, self-policing, and public shaming to raise the awareness of the seriousness of white collar crimes. Their rise is related to the inefficacy of the law enforcement system and unreliable laws and regulations that will oblige white collar criminals to bear responsibility for any kind of fraud. The Bernie Madoff Case shows that a white collar crime is unacceptable in the society and demands necessary and timely responses to prevent more complicated and harmful consequences.

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