Week 5 Assignment – ACCT573

Trusted Criminals Text

#1. Identify some specific strategies that might elevate consciousness about white collar crime. What are some of the major policy options for responding to white collar crime generally? Which overall strategy, if any, is most likely to succeed, and why?
According to the text some strategies that might elevate consciousness are first to have a persistent thesis in literature, so you are more limited and less severe that the response to the conventional crime. If you know the possibilities and the how to’s of the white collar crime that could happen in you department then you are more likely able to prepare you and your organization from fraud. The major challenge that the text finds is to cultivate one with the reality rather then rhetoric. If you do keep thinking that this could only happen to another company and not yours, then you are letting your guard down and more likely to have someone to commit these crimes in your organization.
Generally the government wants action and laws and regulations put into place to prevent these types of crimes from happening. The text says this could be better served as a middle ground. Just because we have the laws or regulations does not mean the crime is going to be deterred or stopped. We need to come up with the correct training and awareness as well.
The main strategy option could be a preventive strategy. You need to have the correct policies in place so you can encourage people not to do these crimes. If you make your staff aware and of teach them what could happen and how to safe guard their information. Give them proper training they maybe able to prevent these crimes or at least lessen the chances of them happening.

Source: Friedrichs, David O. Trusted Criminals: White Collar Crime In Contemporary Society, 4th