Essay On White Collar Crime

792 Words4 Pages

Usually, most of the crime is committed by the persons from the lower class and we rarely heard as well as bother about the crime committed by person from the upper class as they always success in covering their crime using their power, money and connection. The crime which is committed by the person from the upper class is known as the white collar crime, or it is also known as the corporate crime. The reason it call as the white collar crime is because it is a crime which is committed by the high social status person and being respected in the course of their occupation. For my opinion, white collar crime happened because the directors fail to follow the director’s code of ethics. White collar crime is one of the example of the effect if directors did not follow the code of ethics of directors. So, business managers, director or executive is the person whom we will refer in the white collar
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405 to 409, Penal Code
Forgery/ credit/ ATM card fraud sect. 464 to 477A, Penal Code
Offences of printing and publication Printing Presses and Publications Act 1984
Money laundering Anti-Money Laundering Act 2001
Offences of company Companies Act 1965
Bribery and corruption Anti-Corruption Act 1997
Occupational offences Occupational Safety and Health Act 1994
Commodities fraud Futures Industry Act 1993
Banking/ financial fraud Banking and Financial Institutions Act 1989

Based on the article of White-Collar Crime in Malaysia, written by Supt Lim Hong Shuan, the white collar crime in Malaysia that had been investigated by police tripled in the last 10 years of 2005. It including with criminal breach of trust, cheating and misappropriation of funds forming the bulk of cases. In 2003, about RM 579 million was involved in 11,714 cases, compared to 4,229 cases (involving RM 153.8 million) in 1994. Fewer cases were recorded in 2004 (9,899 cases) but the amount of losses went up (RM 836.29
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