White-Collar Crime – The Unmentioned Factor

Home Forum Community Specific St. Thomas and Water Island Economy White-Collar Crime – The Unmentioned Factor

This topic contains 2 replies, has 3 voices, and was last updated by  swilliams 5 months, 3 weeks ago.

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  • #1885

    Millenial.340
    Participant

    White-collar crime does more damage than street crime as white-collar crimes are perpetrated on larger scales, often victimize more people at once than street crimes, and affect the ethical and fair financial structure of a society which has been linked to increases in street crimes.

    Financial crimes are perpetrated on larger scales. As a result, there are compounding offenses that are enveloped within one incident of white-collar crime that can have widespread effects for each offense. These crimes often victimize more people at once than street crimes. Whereas simple assault may only affect a person (direct victim) and their family (indirect victims), health-care fraud victimizes insurers, healthcare providers, institutions, and the patients seeking care and coverage all at once. The initial damage and secondary effects surround the ethical and fair financial structure of a society. Having been linked to increases in street crimes, white collar crimes assert it’s position on a crippling factor on economic prosperity here in the USVI.

    The legal structure of a society is the consensus of what financial practices are allowed to occur and what ethics are upheld within that society to meet the goals and obligations of everyday life. If the structure lacks fair financial practices and ethics then the society lacks a legal foundation, which is a pillar of rationalizing street crime(s).

    #1906

    Daren
    Participant

    In most societies, because the greedy capitalist model is the preferred economic vehicle, white collar crime thrives largely untouched, while the brute force of the law is meted out to the poorer classes, whose very existence these white collar criminals rely on for their survival.

    They pay politicians, bribe judges and are even referred to as’lobbyist’; the three arms of state hereby covered, in the Westminster system, and equivalently controlled in other government systems.

    Unless those who are treated unfairly find a way to unite, somewhat globally, against the systems which oppress them, there will be no change in the status quo; no real freedom, no real progress.

    #1911

    swilliams
    Participant

    I am told of embezzlement at government agencies where there is no prosecution and the individuals are allowed to repay and loose their position with no other consequence; where elected officials create wealth for themselves or friends; where government boards ignore professional advice and make decisions that favor special interest groups to the financial detriment of the larger community. Federal and local law departments indict but are unable or incapable of obtaining convictions. All this contribute to a belief among some that public resources can be misused without consequence. When there is no accountability why not see how the system can be taken advantage of?

    The loss from this behavior is not simply the dollars involved. It chips away at confidence that government serves the people rather than existing to benefit the few. As a people we become increasingly cynical and that spills over to how we view our community and our responsibility to each other.

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