Question

The first step in any program for a more effective response to white collar crime calls for an elevated level of consciousness. A persistent thesis in the white collar crime literature is that the response to such crime is more limited and less severe than the response to conventional crime. This text has suggested many reasons for a more attenuated response, and it has cited some evidence for a growing recognition of the seriousness of white collar crime. The challenge is to cultivate this recognition in a way rooted more in reality than in rhetoric. (Friedrichs, 2010).

What are some recent trends in the use of civil law in response to white collar crime?

Answer 1

White collar crimes are named so because they are non violent crimes done for financial gains such as corporate frauds, money laundering, security frauds and Ponzi schemes.

A civil lawsuit is a case filed by any person to a party when he feels that party has violated laws or harmed their interests.

The trends in the use of civil law for white collar crimes are:

-The are factors that are considered such as how much money is involved, how many people were involved, strength of evidence, any previous case against the accused etc during the evaluation of the case.

-The result of the case can be stated as disgorgement, where the unlawful earnings are sent to the government.

- Investigation performed by the bank on the accused, which may result in settlement with cash.

-Asset forfeituring done by the government for the assets that are acquired by unlawful means.