Question

what kinds of structural transformation might diminish the problem of white collar crime, and why are you optimistic or pessimistic about our chances of addressing this problem successfully in the future?

Answer 1

By following some criteria the white collar crimes can be stopped or reduced:

• The employees should be aware of ethical duties as well as punishment for doing any kind of corruption. In such condition the employees should be imparted training.
• The company should perform internal audit every month and the report should be informed to the concerned authority.
• The power of authorization should include more than two persons and there should be change of the authorization.
• Before providing the power of authorization the concerned employees should be signed on a bond paper for legal responsibilities and liabilities.
• The persons who have the financial power should not have the power to control the software. There should be different department for implementing the software entries with documents.
• All the financial system should have a number of steps so that there operates a systems and many persons are involved with the transaction.