What is corporate crime? Well, corporate crime can be defined as an act of financial deception for the advancement of an organization. The deception may take place through false advertising, improper sharing of information, kickbacks and other fraudulent actions. Corporate crime can also be used in the facilitation of money laundering and other criminal activities.
In fact it is very simple to explain. In criminology, corporate crime relates to criminal acts performed either directly by a company or indirectly by individuals representing a company or other recognized organization. Sometimes the acts are performed knowingly and sometimes they are not. Either way, the result is the same, criminals get caught and their crimes are punished accordingly in the court of law.
Corporations have often been the target of these types of crimes. In the past the main method of operation was to conceal their true size and location. This allowed the crime syndicate to commit crimes such as price fixing. Today with the internet and technology more companies are becoming aware that their presence on the internet could be exposed by fraud. They are trying to find ways to prevent this type of crime as much as possible.
What is Corporate Crime? The answer depends on who you ask. Some people refer to it as lying, stealing, bribery and kickback, all of which are criminal acts in plain terms. Others view Corporate crime as hiding profits, misleading investors, destroying assets, insider trading and price fixing. These are also criminal acts, in other words. When a company engages in any of these actions they are committing a crime.
There are many companies that are being investigated right now as part of a large scale company-wide investigation. Names include Enron, WorldCom and the airlines American Express, Continental and Delta. A few years ago there was a company called Tygon that collapsed. Among the questions that remain is whether corporate crime is linked to all of these problems or if one or more of them caused the whole thing. It is inconclusive at this time, but more investigations will continue until all the facts are known.
What is Corporate Crime? The answer is complicated. You can find articles, books and television programs discussing this often controversial subject. There are even websites that have entire sections devoted to the discussion of what is corporate crime. In the United States alone there are probably hundreds of corporate frauds, scandals and crimes.
What is Corporate Crime is a complex question that warrants an answer. Corporate crime can take many forms. It can involve fraud, deception, theft or even insider trading among its many forms. Corporate crime affects every company of every size and there are hundreds of multinational corporations in operation today.
Fraud and deception can be committed by anyone within or connected to a company. Corporate fraud can be perpetrated by the top management of a company, by one of its dealers or suppliers, by an agent provocateur, by an owner or stockholder, or by any number of others. If there is proof of fraud or deception, then the person or entity involved will be brought to justice. It may be difficult for one company to bring one of its own employees to justice. Corporate crime has reached epic proportions and it can only be solved if every participant is willing to cooperate and share whatever evidence they have gathered.
If you think that you know what is corporate crime, then you are probably right, but you have to take a good look at the world in which we live today before you can ever come to any firm conclusions. You might also consider consulting with a corporate fraud attorney if you have reason to suspect that your company has been the victim of corporate crime or that of someone associated with it. A corporate fraud attorney will be able to help you understand your legal rights and the laws that govern such cases. He will know what your company’s obligations are, including those of your shareholders, officers and other key players.