AutoRecovery save of White Collar Crime a Form of Occupational Fraud.doc

Sentencing disparity in white collar crime continue

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sentencing disparity in white-collar crime continue to be debated. he Sarbanes–Oxley Act of 2002 ( Pub.L. 107–204 , 116 Stat. 745 , enacted July 30, 2002), also known as the "Public Company Accounting Reform and Investor Protection Act" (in the Senate ) and "Corporate and Auditing Accountability and Responsibility Act" (in the House ) and more commonly called Sarbanes–Oxley, Sarbox or SOX, is a United States federal law that set new or enhanced standards for all U.S. public company boards, management and public accounting firms. There are also a number of provisions of the Act that also apply to privately held companies, for example the willful destruction of evidence to impede a Federal investigation. The bill, which contains eleven sections, was enacted as a reaction to a number of major corporate and accounting scandals , including Enron , and Worldcom . The section of the bill cover responsibilities of a public corporation’s board of directors, adds criminal penalties for certain misconduct, and required the Securities and Exchange Commission to create regulations to define how public corporations are to comply with the law. Crime is a complex tapestry of motive and opportunity. The Sultan of Brunei, one of the world’s richest men, may have unlimited opportunity to defraud people. But does he have the motive?(Wells, Joseph T. (2013-10-04). Principles of Fraud Examination, 4th Edition (Page 445). Wiley. Kindle Edition.) So the reality is that for most, the “greatest good” invariably turns out to be what is good for the individual making the ethical decision. ancient and modern philosophers usually subscribe to one of three schools of thought about the essence of people: (1) humans as good, (2) humans as evil, or (3) humans as calculating.
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WHITE COLLAR CRIME 34 In the latter estimation, people will always consistently seek pleasure to avoid pain. This is a lesson most of us learn very young.Wells, Joseph T. (2013-10-04). Principles of Fraud Examination, 4th Edition (Page 452). Wiley. Kindle Edition. Abusive conduct, which includes fraud, is difficult to define and quantify. This conduct will exist at some level in all organizations. Crime is a complex formula that involves not only opportunity, but motives. Greed alone is an inadequate explanation for fraud because it is a natural human trait that exists, to varying degrees in everyone, and it cannot be quantified.Wells, Joseph T. (2013-10-04). Principles of Fraud Examination, 4th Edition (Page 454). Wiley. Kindle Edition. References Delort , Jean-Yves, Bavani Arunasalam, Henry Leung, and Maria Milosavljevic (2009). “The Impact of Manipulation in Internet Stock Message Boards.” The International Journal of Banking and Finance, 8: 1–18. Wells, Joseph T. (2013). Principles of Fraud Examination, 4th Edition (Page 5). Wiley. Kindle Edition. Clinard, Marshall B. and Richard Quinney (1973 [1967]) Criminal Behavior Systems: A Typology. New York: Holt, Rinehart & Winston
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WHITE COLLAR CRIME 35 Sutherland, Edwin H. (1940) ‘White-Collar Criminality’, American Sociological Review 5(February): 1-12 "Pump&Dump.con: Tips for Avoiding Stock Scams on the Internet". U.S. Securities and Exchange Commission. January 11, 2005.
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