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The Significance Of White Collar Crime, And White Collar Crimes

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When we hear the word ‘crime,’ we automatically assume that it involves criminal or civil crimes. These crimes usually involve people in robberies, murders, or even injuries. However, there are also crimes that are committed by a company or a business. Business crimes or white collar crimes are crimes committed by a businesses or government professional. These crimes are often committed using confidential information attained by an individual to commit fraud. There are diverse types of white collar crimes, including tax fraud, telemarketing fraud, and insider trading. White collar crime was first introduced by Edwin Sutherland in a presidential address to the American Sociological Society in 1939. During this address, he discussed the importance of these crimes and why they should be considered crimes (Shover 133). The reason that these crimes are often overlooked or not discussed are because of the difference in backgrounds and characteristics of the parties involved. The Internal Revenue Service (IRS) was established to carry out duties to the Secretary of Treasury. Under Code Sec 7801, the Secretary of Treasury reserves the right to establish any agency to help enforce revenue laws (Rettig 59). Thus, the IRS Criminal Investigation Unit was created on July 1, 1919, for the sole purpose of investigating claims of tax fraud (The History of IRS Criminal Investigation (CI)). Tax fraud is one type of white collar crime, which occurs when a company or individual tries to

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