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Street Crime Vs White Collar Crime

497 Words2 Pages

White collar crime is a very serious form of crime, that affects many people on different levels, many unknowingly. White collar crime results in more financial loss than street crime. White collar crime is estimated to account for 483 billion for all corporate crimes, 77 billion in health care fraud, and 15 billion in employee theft (Barkan, 2015, p.275). This amounts in 575 billion dollars annually. This is a much greater financial loss than those who experience street crime. Street crime only accounts for 16 billion dollar annual loss (Barkan, 2015, p.275). White collar crime not only affects people financially, but also physically. White collar crime includes corporate violence. Each year there is estimated that there are 50,000 deaths …show more content…

Caspersen, most likely defrauded his clients, because he thought he would never get caught, and if he did get caught the crime would outweigh the punishment. Often times those who commit white collar crime are subject to minimal or lenient punishment. This has to do with the fact that many corporations are just too powerful to take head on. Many time those who are caught do not suffer much punishment because of weak regulations, the fact that white collar crime is hard to prove, and weak punishment ( Barkan, 2015, p.278). Mr Casperson defreauded his clients for over 38 million dollars, he was summoned to forfeit over 45r million, the capital he made form his investors 38 million, most likely surpasses that amount significantlly. Mr. Caspersen also had an abundance of oppoturnity to be able to take advantage of others. He took money, not from strangers, but from family and friends as well. These are people who probably never blinked an eye or question where there money was going. Like with street crim, most white collar crime is committed whenthere is the opportunity and motivation (Barkan, 2015, p 276) to committ a crime. He also had plenty of motivation. Increasing his amount of available funds was a huge motivation, not because he wanted to be richer, but because he also had a gambling habit he had to

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