Bank Fraud
Strain Theory on White collar crime: Counterfeit
University of Oklahoma
April 14, 2014
White collar crime is a defined as a crime committed by an individual of high spcial ranking, that receives alot of repsect in the comunity, the term coined by socialogist Sutherland. Over the years this descriptio of white collar crime has been contested and now covers a range of crimes. One in particular is counterfeit. This can happen a number of ways, one that is becoming more common is counterfeit money scams and committing fraud towards a financial institution. One of the most recent cases of counterfeiting is the the ring of five men that circulated six million dollars worth in the money market. I come across this crime on regular basis at work. I work as a deposit loss prevention analyst at a bank here in Norman. My coworker wonder why people deposit counterfeit checks into the bank and commit fraud on our clients accounts. I say people commit this crime becuase they feel they need the money and lack the drive to go out and earn the money themselves. This concept sounds all too familiar. This concept I described can be explained by Merton’s Strain theory. Throughout this essay I will describe the processes of bank scams and counterfeit in the bank. Do not confuesed, this essay is not to teach you how to be succesful at committing fraud at a bank or scamming a bank. This sole purpose is to give an inside look on white collar bank scams and the theory of why the crime is committed and how to prevent it. On december 18, 2013, three men were charged with counterfeit, forgery, criminal conspiracy and identity theft. These men hailed in Phillidelphia and New York. These men have stolen business checks from a US Postal office between the years of 2010-2012. The suspects are as follows :Traore Boubacar,Amed Conde,Jeremy Gekonge, Saheed Adebayo, and Adebisis Oladipupo. Booubacar and Conde are
University of Oklahoma
April 14, 2014
White collar crime is a defined as a crime committed by an individual of high spcial ranking, that receives alot of repsect in the comunity, the term coined by socialogist Sutherland. Over the years this descriptio of white collar crime has been contested and now covers a range of crimes. One in particular is counterfeit. This can happen a number of ways, one that is becoming more common is counterfeit money scams and committing fraud towards a financial institution. One of the most recent cases of counterfeiting is the the ring of five men that circulated six million dollars worth in the money market. I come across this crime on regular basis at work. I work as a deposit loss prevention analyst at a bank here in Norman. My coworker wonder why people deposit counterfeit checks into the bank and commit fraud on our clients accounts. I say people commit this crime becuase they feel they need the money and lack the drive to go out and earn the money themselves. This concept sounds all too familiar. This concept I described can be explained by Merton’s Strain theory. Throughout this essay I will describe the processes of bank scams and counterfeit in the bank. Do not confuesed, this essay is not to teach you how to be succesful at committing fraud at a bank or scamming a bank. This sole purpose is to give an inside look on white collar bank scams and the theory of why the crime is committed and how to prevent it. On december 18, 2013, three men were charged with counterfeit, forgery, criminal conspiracy and identity theft. These men hailed in Phillidelphia and New York. These men have stolen business checks from a US Postal office between the years of 2010-2012. The suspects are as follows :Traore Boubacar,Amed Conde,Jeremy Gekonge, Saheed Adebayo, and Adebisis Oladipupo. Booubacar and Conde are