White collar crime : need or greed?

Abstract

White collar crime is not a modern offence but has received criminological attention only relatively recently. Different types of crime such as; fraud, corruption, misappropriation, trading in influence, bribery and money laundering fall under its wide umbrella. Losses are incurred across all sectors of society - to business, its investors and customers (through higher prices). White collar offenders are often intelligent with good educational background, smartly dressed and in high status professions. This study explores the nature of white collar crime internationally and in Malta, including how it is seen and defined by business and the extent of losses incurred. It asks what is the offender's motivation looking at it from the theoretic frameworks of rational choice, opportunity theory, routine activity and neutralisation theories. It goes on to explore options for controlling and preventing financial offenses. Empirical data were gathered from open-ended semi-structured interviews with selected elite business respondents. The findings confirm Sutherland's classic conceptualisation of the nature and extent of white collar crime, with an additional emphasis on 'greed' as the primary motivation with rather less emphasis on opportunity. It offers a theoretically secure empirical platform for remedial action.