Answered: What are some consequences of…

Social Psychology (10th Edition)

10th Edition

ISBN:9780134641287

Author:Elliot Aronson, Timothy D. Wilson, Robin M. Akert, Samuel R. Sommers

Publisher:Elliot Aronson, Timothy D. Wilson, Robin M. Akert, Samuel R. Sommers

Chapter1: Introducing Social Psychology

Section: Chapter Questions

Problem 1RQ1

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Question

What are some consequences of white-collar crime?

Expert Solution

Step 1

Corporate crime or white-collar crime can be defined as an organized form of crime committed at an organizational level. It is usually committed by an individual or a group holding a high social position and an official post in a corporation. Some of the distinct characteristics of corporate crime are- low visibility and a wide gap between the offender and the victims.

Step 2

Some of the consequences of white-collar crime are-

Punishment for a white-collar crime can range from fines, probation to long-term imprisonment.
An accused might also be served with community service.
If caught, an individual's assets, including personal and familial property, might be seized.
Strict vigilance and government control on future transactions and paychecks might be imposed.
White-collar crime accusations can impact an individual reputation adversely. An individual might lose his job or suffer from significant losses if he owns a business.