Effectiveness of white collar legislation in pursuance of fraud and schemes committed through internet
According to Department of Justice (2008), white collar frauds are any illegal acts characterized by deceit, concealment or trust violation in order to obtain service, goods or money or even securing a business advantage by professions within their field of work.corporate crime Internet frauds are actions of crime with intention of obtaining money illegally over the internet either through hacking or using falsified information to con internet user. Following the arguments of Hagan (2011), there have been increasing cases of white collar fraud over the internet and schemes with increased application of Information Technology (I.T) in the financial institution as well as online payments when trading. Security measures are being enacted in order to control this high profile crimes but success of these measures have been hampered due to increased knowledge on use and application of internet.
Hagan, F. (2011). Introduction to Criminology: Theories, Methods, and Criminal Behavior. California: SAGE Publications Inc.
Johnsons, R. (2013). The Common Elements of White Collar Crime. The Erudite Risk Blog. Retrieved from http://www.eruditerisk.com/index.php/about-us/the-erudite-risk-blog/106-the-common-elements-of-white-collar-crime