EXPLORING WHITE-COLLAR CRIMES: A CRITICAL ANALYSIS OF LEGAL THEORIES AND IMPLICATIONS

Abstract

The term "white-collar crime" is used to describe a broad range of non-violent and financially motivated offenses carried out by people who have gained an element of trust or authority over others. Because of their ubiquity and impact on society and the economy, white-collar crimes tend to be reported less often and investigated less thoroughly than street crimes, and their sanctioning usually does not meet the level of street crimes. In examining the reasons, methods, and continuation of these offenses, this study analyse major historical and criminological theories regarding white-collar crime differential association theory (DAT), rational choice theory (RCT), strain theory (ST), and labelling theory (LT) to determine how well each of these theories serves to explain the motivations for and persistence of white-collar crime. This qualitative research project employs a doctrinal legal analysis, as well as reviewing various statutory laws and decisions, landmark case law, and developing a comparative view of the regulatory frameworks in place in different jurisdictions. By reviewing the existing academic literature, government publications, and judicial decisions related to white-collar crime, this paper identify the theoretical relationships and gaps in white-collar crime enforcement. Additionally, the socio-economic impact of white-collar crime examined in relation to financial loss, erosion of public confidence, and many other areas. The analysis of white-collar crime indicates that existing legal theories on white-collar crime have many facets but must not be viewed in isolation. Therefore, a multi-theoretical approach is necessary to recognize the different effects of corporate culture, opportunity structures, and the influence of power on both perpetrators of crime and the response of the legal system to those crimes. Additionally, the analysis highlights substantial variation in prosecutorial discretion, leniency in sentencing, and lack of regulation which permits white-collar crimes to persist without consequence. The analysis also concludes that comprehensive and effective legal reform, strengthened regulatory oversight, enhanced accountability mechanisms for businesses, and ethics based education for individuals in professions that involve the use of financial resources are required to effectively combat white-collar crime. The analysis demonstrates that integrating criminological theories with the policy-making process lead to the development of proportionate sanctions and proactive measures for the prevention of white-collar crime. Future research include empirical examples and different national contexts in order to develop the theoretical framework of white-collar crime and improve the effectiveness of law enforcement and regulatory agencies against it.