White Collar Crimes In The United States

The FBI defines white collar crimes as lying, cheating, and stealing. The Department of Justice defines them as non violent illegal activities that involve deception. White collar crimes falls under the purview of Criminal law. They are usually committed for financial gain. They are committed by means of deception used by people who are in an entrepreneurial professional or semi professional position. Not all people that commit white collar crimes are semi or professionals or have special technical knowledge as once thought by the government (Strader, J. K., 2002). White collar crime costs sufficient amount of loss to the federal, state, local government. Private organizations and individuals are effected by white collar crimes as well. People lost their life savings because of white collar crimes. Some examples of these crimes are bankruptcy frauds, government fraud, healthcare fraud, financial fraud, securities fraud, credit card frauds, bribery, antitrust
The state government can prosecute them and they do; however, the federal criminal justice system is more qualified to deal with these types of crimes. When a case where the crimes are multiple or they span to multiple states the federal criminal justice system will handle those cases (HG.org, 2012). “The Federal Bureau of Investigation (FBI) and other federal agencies employ their far-reaching investigative and prosecutorial services to deal with white collar criminals and their various crimes” (HG.org, 2012). When a company suffers from fraud from any source, the consumers are the ones that suffer. Companies make up the difference by raising costs, which ultimately means higher prices for consumers. Employees suffer because their hours, job, and their pay may be less. Investors and employees may find themselves unable to pay off loans, and credit becomes harder to obtain (McGrath, J.,