Week-5-Essay-White-Collar Crime

Apr 28th, 2015
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DeVry University
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Embezzlement is the act of unlawfully converting property that the perpetrator has access to, in order to benefit themselves. The key way in which it differs from theft is that, in embezzlement, the resource in question is accessed legally, typically because the criminal was trusted with it(Linker, S. "Embezzlement: Everything You Need to Know," 2008, Para. 4).

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White-Collar CrimeBrian SeguineDevry UniversityEmbezzlement is the act of unlawfully converting property that the perpetrator has access to, in order to benefit themselves. The key way in which it differs from theft is that, in embezzlement, the resource in question is accessed legally, typically because the criminal was trusted with it (Linker, S. "Embezzlement: Everything You Need to Know," 2008, Para. 4). Embezzlement is committed by sales clerks removing money from registers, or by financial professionals who illegally take money from their clients.Embezzlement can be described as a gross violation of trust, and in this, it shows its deepest impact upon an organization. An employee who embezzles money from his organization, or from that organizations clients will bring a great deal of negative press down upon the organization; trust will be damaged, public opinion will sway, and stock prices will fall. Further, employees within the organization may be demoralized by hearing that someone above them committed such an act, and may underperform at their jobs, or commit crimes against the organization themselves, reasoning that if the organization doesnt care about them, then they should not care about the organization. In this way, embezzlement severely damages an organization, as all these factors will combine and in doing so, exacerbate each other.The best way to detect embezzlement is simply for the person who owns the money/property being trusted to

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