Causes Of White Collar Crime

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Introduction The objective of this paper is to determine the factors that contribute to how ICT is used to detect white collar crime, the drivers of white collar crime, the impact of the crime and what organisations can do to prevent white collar crime. Over the years organizations have lost significant amounts of money from crimes committed by the least expected people in the organizations, people who have worked for the same employer for several years. Key words White Collar Crime, ICT, White collar criminal Definitions White Collar Crime - A non-violent crime that is committed by someone, typically for financial gain. The typical white-collar criminal is an office worker, business manager, fund manager or executive. ICT- Information Communication…show more content…
This may be because the offender sends his/her kids to expensive schools, drives lavish cars and is leaving a fancy lifestyle just because they want to match up to their peers standards. When one’s expenses are more than their salaries the pressure mounts up and they start thinking of ways to get out of those situations. In other cases gambling and drug and alcohol abuse induce this pressure. Opportunity When the pressure becomes unbearable and the company doesn’t have much control in place on its systems the offender cannot resist the temptation to help themselves in company funds. If they go unnoticed the first time and the pressure is still there it becomes difficult to get their hands off the cookie jar. Rationalism After the offender gives in to the pressure and takes the opportunity to take what doesn’t belong to them, they usually get overwhelmed by their guilty conscience. To ease this they rationalize their behavior. In their heads they classify this act as taking a loan or commission. Another excuse they have to justify this criminal act is that they are unappreciated and underpaid for the work they do for the…show more content…
The stats of people who commit this crime is proof enough that for some top officials there is no such thing as enough money, I read an article on wall street journal about an executive vice president of a company who was fired on allegations of embezzlement, she stole millions from her company and no one suspected it because this is a person who takes home a huge pay check at the end of each month. “Why do the wealthy still steal from the till” is a question one can’t help but ask oneself, the answer is simple though: addiction to greed. Control and Power White collar criminals have a drive to misuse the power and control of the systems they work on, for the enjoyment of its benefits whether the means are good or bad. If they see that there aren’t that much controls preventing them from manipulating the systems they find it easy to do as they please on organization’s funds because they know they won’t be easily caught. The impact of white collar crime Financial loss Financial loss due to white collar crime is much greater than financial loss to robberies. Companies are hit hard by this criminal act because they lose huge amounts of

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