Identify the principal agents who expose white collar crime in contemporary society. What factors motivate people to expose such crime, and what factors inhibit them from doing so? What specific policy measures can be adopted to encourage exposure of white collar crime?
According to the text, in this case, principal gents who handle such cases play an important role in white collar crime. They are the Informers and Whistle Blowers A white collar crime is a non-violent act involving deception, typically committed by a business person or public official. A criminologist blames economic recession and complex financial system as major reasons for the rising white collar crimes in the U.S. “Witnesses” of white collar crime who often do not realize that a crime has occurred, may be confused about what to do in response to it.
And our traditional frontline enforcement agencies have not been organized to monitor and respond to white collar crime. Furthermore, if the management enforce some new policies regarding fraud throughout the company via bulletins, posters and training. They also should set up an anonymous hotline so that more fraud can be reported without the threat of losing employment.
* Question 6, p. 26 of Business and Professional Ethics for Directors, Executives, and Accountants How can corporations ensure that their employees behave ethically? According to the textbook, corporate directors are expected to govern their company ethically, meaning they are to see that their executives, employees, and agents act ethically. The corporation is expected to be accountable to stakeholders in a transparent or ethical manner. Performance assessment now extends beyond performance evaluations to encompass how ethically results are achieved.
As a result, the emerging governance and accountability regime for business and the professions has become far more concerned with stakeholder interests and ethical matters than in the past. Directors, executives, and professional accountants, who serve the often-conflicting interests of shareholders directly and the public indirectly, must be aware of the public’s new expectations for business and other similar organizations, and must manage their risks accordingly. More than just to serve intellectual curiosity, this awareness must be combined with traditional values and incorporated into a framework for ethical decision making and action.