Business crime
Business crime refers to the financially driven, non-violent crime that is mostly committed by business and government professionals. The business crime pursues principles just as for any other offense since it is done for murder, kidnapping rape, and any other known non – business crimes (Levi & Soudijn, 2020). Business crime is strongly connected with severe offenses, and therefore it attracts hefty fines. Consequently, a person must be caught with a business crime to hire a knowledgeable defense attorney for survival. Some of the commonly practiced business crimes include bribery, embezzlement, internet crimes, money laundering, extortion, identity theft, drug trafficking, and tax fraud.
The crime, whether being violent or white-collar, is harmful to society. It is an activity which imposes enormous cost within society. In the modern world, every person is a subject and victim of crime, an aspect which calls for individual protection. The first protection of being safe from crime is not to involve criminal activities. The more people avoid unlawful activities, the less case of being subject of being robbed. Also, it is the responsibility of every individual to ensure that they report any business crime suspected. It is shocking to hear that several business crimes are not reported due to various reasons. Among those reasons are just ignorance and unclean records, an aspect which has caused the society dearly. It has been noted that street crime is second in costing society after the business crime, which costs society billions of dollars.
It is a fact that business crime harms the business itself, the society together with its customers. Among many business crimes that are detrimental to society is a fraud. Fraud can be categorized in various types of crimes, which all have one common denominator. The common element in fraud is that it has deception with the intention of acquiring property or money. There are various types of frauds, and wire or mail fraud is among them. Wire crime can be categorized as the federal type of crimes that involve the use of interstate mail, phones, telegram, television, and radio in the attempt to acquire property by deceit(Levi & Soudijn, 2020). An example of wire fraud is when a government agency makes an interstate call to either sell the property, which is not rightfully owned by them.
Another category of fraud is known as internet fraud. It mostly involves online scams of the sale of merchandise, which is defective or does not exist. It is among the global business crime since most of the countries either developed or developed has gone digital. Internet fraud has its categories of crime, and among them is the auctions. The internet auctions involve unethical acts of wrongdoers selling things they do not own, providing the defective goods, and even selling counterfeit products. Internet auction is leading in consumer complaints about online fraud. It is a scenario that indicates that business crime has spread all over the world. The second type of internet fraud is identity theft. It is the process whereby unethical people steals the social security number and uses it to pursue personal information (Levi & Soudijn, 2020). Among the personal information being invaded are the bank account and credit cards. For the bank account, they withdraw all money and uses the credit card to obtain loans hence making people of the society be victims. It is a business crime that attracts a mandatory sentence of not less than two years and hefty fines.
Money Laundering is another rampant business crime, and it has cost a lot of harm in society. It is a crime business which consists of taking the proceeds of particular criminal activities and use the money to promote crime (Levi & Soudijn, 2020). Money Laundering forms an integral part of the significant illegal activities within enterprises. Those criminals who have succeeded in money laundering earn a substantial amount of money, which they must plow them back in the commercial flow. The rationale behind pushing that money back to their business is to allow their criminal activities to go undetected. Laundering has been observed to be a necessary process of acquiring destructive criminal acts of drug trafficking. Money Laundering involves a lot of profits and cash; the cartels usually come up with a complicated system of making the government less suspicious. Besides, these cartels take their earnings outside their country where there is les no keeping of records to ensure their money laundering activities are well protected.
It is seen that money laundering is a business crime that has the capability of carrying other crimes. The activity involves illegal obtaining of money; hence even the workers engaged in this activity are illegally obtained. In most scenarios, these legally hired workers have criminal history records, and they are always interested in gaining money. Within this context of illegal activities, they extend the activities of crime in business. The history of internet fraud and other business crime revolves around these unauthorized hired people who are experts when it comes to deals of business crime