The Corporate fraud cases are much difficult to catch or prevent since the

The corporate fraud cases are much difficult to catch

This preview shows page 3 - 4 out of 5 pages.

property for personal interests, insider trading and also a violation of tax obligations. The Corporate fraud cases are much difficult to catch or prevent since the crimes are committed behind a legal business dealing making it easy to overshadow the fraud ( Sutherland, 2017 ). Creative and innovative systems of promoting checks and balances and security for the company could help in preventing fraud crimes. Money laundering involves financial crimes that are white-collar-crimes and does not target a particular person or company, but they have a significant impact on the public and the economy. For instance, counterfeit money destabilizes the currency and harm people who accept it without knowledge. Other crimes include corruption, insider trading, healthcare fraud among other property and financial crimes ( Sutherland, 2017 ). Money laundering follows a process to hide the source of money made through illegal or criminal dealings to make it appear as clean money. Laundered money is transferred in large sums using means that appear to be legitimate. Several laws in the US deal with white-collar-crimes given that the state and the federal government have come up with legislation to regulate the crime (Nexus, 2018). Enforcement of these laws is done by the Securities and Exchange Commission, the FBI and the IRS (Internal Revenue Commission). The penalties for perpetrators of white-collar crimes include home
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  • Winter '17
  • Federal Bureau of Investigation, theft, White-collar crime, Edwin H. Sutherland, WHITE-COLLAR CRIME ARTICLE REVIEW

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