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Corporate Crime Involving the Internet, Whom Fought to Recoup Losses

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Corporate Crime Involving the Internet, Whom Fought to Recoup Losses
Wendy Nash
LEG200
White-Collar Crime
Professor Miriam Altman
26, July 26, 2015

Introduction The increase in white collar financial, political and cybercrime is observed. The extensive usage of technology for trading and business has also instigated the escalation of cybercrime activities. The business and individuals are prone to numerous risks of financial losses through white-collar crimes. The laws and regulation to reduce white-collar internet crime should be improved and implemented. The process of recoup of losses for victims of cybercrime is complicated and could be very time consuming, not to mention very costly. Although, after winning the lawsuit, lawyer fees can be asked to be compensated, but in the beginning, the lawyer fees are the company’s or individual’s responsibility. It requires adequate measures for dressing of the grievances. The involvement of political parties in personal and political white-collar crimes are challenges for an effective legal system. The economic conditions and lack of jobs lead to vocational crimes.

White-collar legislation: There are multiple types of white-collar crime and the case law has recognized several types. It is evident that insider trading has been recognized well before other cybercrimes as an important type of white-collar crime. The provisions of law as well as the remedies available for white-collar crime are developed and improved frequently in today’s world. The changes in technology and online presence of shopping, trading, and e-commerce activity is also prone to fraud and numerous other crimes. The online identities are used in several ways by criminals to unlawfully damage the financial, business, and trade position of individuals and corporations (Friedrichs, 2009). It us observed that case laws provide

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