Syracuse University Investigating White Collar Crime Essay Assignment Criteria:
1 – 1 ½ pages, 12 font, double spaced, all work that is not your own original ideas must be cited properly using the APA format (listed in the course syllabus in Content Section). You should be citing in the body of your paper as well as on the source page
**Only use the course textbook “TRUSTED CRIMINALS” and videos as your sources.Work not properly cited will be treated as plagiarism according to the school policy as listed in the student handbook.
– **Your paper should also have a Source Page listing sources used.
Assignment Question (s):
** As noted in the text on pages 267, 319, 279-282:
*First, in your view, what method of investigating and prosecuting White Collar Crime would be the most effective? Fully Explain.*
*Second, what agency/agencies would be the most effective in investigating White Collar Crime. *
RICO Video: Grand Jury Videos: WHITE COLLAR CRIME: COMPARING AND
CONTRASTING THE DIFFERENT METHODS USED
BY LAW ENFORCEMENT AND PROSECUTORS TO
COMBAT WHITE COLLAR CRIME. ANALYZING
ADDITIONAL TYPES AND METHODS OF WHITE
Additional Methods/Types of White Collar Crime:
Crimes on Wallstreet – There are many different crimes
associated with the financial sector but we will focus on two
types: 1. “Pump and Dump” Stock Scam
2. Insider Trading
“PUMP AND DUMP” Stock Scam – This is where you
hype a worthless stock (done via the media, internet, trade
magazines etc.) so that many people invest/purchase the
stock, and then dump the stock at its peak thereby making a
large profit. However, due to the stock being worthless the
price crashes resulting in investors losing all of their money.
These scams are usually perpetrated by organized crime
members who infiltrate Wallstreet to conduct these crimes.
INSIDER TRADING – Illegal buying/selling of stock by a
person acting on privileged (insider) information
Other types/methods of WCC:
RACKETEERING- Criminal activity performed to benefit
the criminal organization. Examples of racketeering would
be money laundering, bribery, corruption,
intimidation/violence, drug trafficking, human/sex
trafficking, extortion, cybercrimes/ID theft etc..
Racketeering is primarily used by organized crime
EXTORTION – Obtaining something (usually money)
through the use of force/threat of force, intimidation or
violence. For example, organized crime members may
approach several businesses and tell them that unless they
each pay a weekly/monthly fee, their business will be
burned to the ground, bombed etc.
A drug gang might extort persons in the neighborhood and
require them to pay a “protection” fee from other criminals.
Methods used by Law Enforcement and Prosecutors to Combat
White Collar Crime
White Collar Crime can be investigated and prosecuted on the
local, state and federal level. However, the most successful
large-scale and complex cases are investigated/prosecuted at the
Provides more resources in the way of finances, manpower and
expertise due to the complexity of the cases. In addition, federal
cases are not hampered by jurisdictional boundaries whereas
state and local cases are.
Methods used Law Enforcement and Prosecutors to Combat
White Collar Crime (CONT.)
RICO Law/ RICO Statute – (pp.267) RICO stands for
Racketeer Influenced Corrupt Organizations. RICO is a
very powerful tool used by federal prosecutors to
investigate and prosecute criminal organizations and
complex cases. Many cases involving white collar crime are
prosecuted using RICO such as bank fraud, insider trading,
cyber crime/ID theft. RICO is also used to prosecute cases
involving drug trafficking and human/sex trafficking
organizations, Outlaw Motorcycle Gangs etc.
RICO is useful as it targets all members of the organization
and as well as the finances generated by the organization. If
convicted under RICO, the minimum federal prison
sentence is at least 20 years.
Many federal agencies utilize Financial Crime Units and
Economic Crime Units to investigate complex white collar
crime cases. Many of these agents have degrees in
accounting, computer science or law due to the complexity
of the investigations.
Another method is the Organized Crime Task Force –
Multi-agency federal task force used to combat criminal
organizations comprised of federal agents and state
investigators. OCTF could consist of the FBI, IRS,
Homeland Security Investigations (HSI), state and local
agencies all working together on complex cases.
Cross Designation is a method agencies use to join forces to
combat white collar crime. To join a federal task force, a
state investigator must be Cross Designated or “sworn in” in
order to partake in the task force.
Federal Grand Jury (*pp.319) – Very powerful and effective
tool to investigate and prosecute WCC cases. The Grand
Jury (GJ) consists of 16-23 persons who hear evidence in
the GJ proceeding as to whether probable cause exists to
indict the defendant. Upon hearing the testimony of
witnesses (law enforcement etc.) they vote to indict or not
indict. Only based on probable cause. GJ is also based on
secrecy as all proceeding are sealed/not public. GJ can also
authorize GJ Subpoenas which are powerful tools to acquire
information and records.
Federal Agencies – Several federal agencies are responsible
for investigating white collar crime including the FBI, IRS,
U.S Postal Inspection Service, Secret Service **(pp 279282)*.
For example, if there is a large-scale Insider Trading case on
Wallstreet, the FBI might also work with the Securities and
Exchange Commission (SEC) (*pp 293) to investigate the
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