WHITE-COLLAR CRIME AND BRIBERY VERSUS EXTORTION
A white color crime is the type of offence which involve with issue of trust, in the sense of crime related to manipulation for the benefit of financial gain. Bank scam, embezzlement, and cash laundering. They have got key elements which help identify this white-color crimes, the first one is the fraudulent swindles and security scam, in such cases they are always ought to be reported to the state law enforcers. This might happens in organization and government which usually ranges from inside deals and other external means the key drive is the financial gain (Mann, Roberts & Smith 2012). The other chief element is money. Research shows, that the individuals who involve themselves in this type of crime a motivation of personal financial gain. The job capacity in the business world can allow individual to seek fortune in illegal means. The access of huge amount of money is everyday crime which the public happens to view that the offenders are being treated with leniency by US District Attorney yet it is actually the opposite (Twomey & Jennings, 2010). You are bound to receive heavy penalty if found guilty on crimes of financial crimes compared to drugs or violence for instance.
Specific strategies and tactics for conviction of white-color criminals by government are common in different District quotas. The Sarbanes-Oxley Act (SOX) was introduced in the early 2000s to counter the serious rise of tall profile fiscal scandal which made investors’ confidence drop significantly (Mann, Roberts & Smith 2012). Courtesy of the drafted law we witnessed improvement of commercial governance and responsibility, this is not meant for the financial departments but also has tremendous impact of IT department. The law entails a lot of definition on what actually should be maintained in the company reports and for how long. It should be saved for not less than five years and if not dully abide it would result to enormous high fines. The penalty for violation of SOX Act sums up to twenty five years imprisonment with no consideration of being allowed to reveal the defendant actually acted deliberately (Twomey & Jennings, 2010). Inventory shrinkage is another common crime which has implication ranging from financial benefits, the inventory which are received by the company are diverted to other areas in secret and later sold and revenue collected outside the company. Employee theft is a common practice which led to imprisonment and supplementary financial fines. There are discrete difference between bribe and extortion merely exist but one should be aware that for it to be extortion it has to involve some threat, implicit warning. Extortion can be defines as misuse of civic justice which in this case is a public officer unlawfully taking any money or other fortunes which he is not entitled to earn. Surprisingly, this kind of crime can be found in government departments, if a firm participates in a given crime the government through the department of justice (DOJ) and to make the civil suit go away they are asked to make donation (Mann, Roberts & Smith 2012). In bribery, the briber can at time be the initiator rather than being the briber. At first, the individual can pose as demanding for bribes, nonetheless in broad-spectrum the bribed person with then do something in indulgence of the persuading party.
It is important to know the difference even thou the two are related to exchange of funds or property crimes.
References
Mann, R. A., Roberts, B. S., & Smith, L. Y. (2012). Smith & Roberson's business law. Mason, OH: South-Western Cengage Learning.
Twomey, D. P., & Jennings, M. (2010). Business law: Principles for today's commercial environment. Mason, OH: South-Western Cengage Learning.
