Insider Trading: This crime involves the use of confidential and secret information to trade in shares of public corporation. Insurance Fraud: This crime involves usage of false statement and evidences to get benefits from insurance schemes. Investment Schemes: Investment scheme fraud involves convincing people to invest in a fake or temporary business activity, by ensuring them huge profit margins. Kickback: This crime occurs when a person who sells an item pays back a part of the purchase price to the buyer. Money Laundering: This crime involves hiding of sources of illegal obtained money through foreign banks, overseas companies and illegal transactions so that government could not track the illegal activities and person can get tax exemptions.
The primary themes governing these acts are usually financial or political in nature but often a combination of both. An example of this is the broad definition of political white-collar crimes. “Political white-collar crime is crime carried out by individuals or networks of individuals who occupy governmental positions and seek economic or political advantage for themselves or their party” (Friedrichs, 2007, p. 9). These crimes should not be confused with terms such as “state crime” or “state-corporate crime,” despite the similar political overtones. “State crime (or crime of the state) is macro-level harm carried out on behalf of the state or its agencies” (Friedrichs, 2007, p. 9).
Organized crime has the potential of bankrupting a nation's monetary funds. Organized crime is more dangerous than occupational crimes because organized crime sometimes has aided terrorist with funding. The sole purpose of organized crime to continually make money. Organized crime members do not care how they make their money and the effects of them getting money. Occupational crime differs from organizational crime because the participants of occupational crime do not want the company they work for to be bankrupt and go out of business.
The nominated officer (within UK financial institutions is usually the Money Laundering Reporting Officer (MLRO)) is responsible for evaluating the suspicious activity and report this to the Financial Intelligence Unit (FIU) within the National Crime Agency (NCA). Failure to disclose such incidents is an offence for the employees and the nominated officer of the regulated firm. The authorised disclosure form relating to any suspicious activity commonly known as a ‘SAR’ (Suspicious Activity Report) is completed, and it is submitted to the National Crime Agency (the “NCA”). Section 104 of the Serious Organised Crime and Police Act 2005 (SOCPA) brought in an amendment to the Proceeds of Crime Act 2002 (PoCA). This added a condition that legal obligations to report remain only if: ● the identity of the person is known ● there is knowledge of the whereabouts of the laundered property ● the information that is available would assist in identifying that person, or the whereabouts of the laundered property.
Capitalism and Commodification of Crime The connection between economics and crime activities is multifaceted and complex. Perhaps as a result of this density, there has been thorough coverage of the issue of crime in connection to capitalism which has become elusive to administrative or mainstream criminology, more especially in the United States, regardless of some occasionally high-profile and ostensibly elaborate attempts to address it. The modern market system is capitalism. It has been grafted into almost the entire economic system. The idea behind this modern economic system, capitalism, is that it is not an economic activity’s usefulness-it’s the fulfillment of the actual need of an individual-that is vital, but it’s only its commodification
Which means that the owners did not lend the item. Generally, the term “shoplifting” describes an act of theft committed by someone who steals merchandise from a store. Shoplifting is not theft because theft is with weapons. In defining shoplifting, the action of stealing goods from a shop while pretending to be a customer. There are three types of shoplifting and those that stand out are the most simple, common and complex.
While it is not evident whether or not US Citizens are specifically targeted, they are also travelling at a great risk. Other than killing each other, criminals also participate in crimes such as extortion, which is when criminals demands money from the victims by threating them. This is something that has been occurring very frequently in El Salvador. These kinds of extortions are mainly seen through small businesses; however, other individuals are threaten as well. When an individual fails to cooperate with the criminal, there may severe consequences such as death.
Public order crimes are often referred to as consensual crimes, victimless vice, crimes without victims or victimless crimes (Siegel, 2006). Crimes against public order are defined as crime which involves acts that interfere with the operations of society and the ability of people to function efficiently (Siegel, 2006). Public order crimes often trace their origin to moral crusaders who seek to shape the law toward their own way of thinking. Significant debate continues on how to reduce public order crimes such as illegal prostitution, illicit drugs, and money laundering. The drug problem today is very large and continues to grow more serious every year.
Once again, I understand that businesses have to survive, but there are better ways to do so. If there was ever an unethical company, Providian is it. Providian defrauded millions of dollars from its customers. If I recall this correctly, in the film it had two entrepreneurs with a business called “People First Recoveries”. The two buy bad debt from all over the country in hopes of one day making huge profits and for them to attempt to collect their money they have peoples’ personal information they use against them.