The definition of white-collar crime is a complex issue due challenges regarding its distinction from other forms of crime, the individuals involved in this crime, frequency of occurrence, associated costs and the likely motivations. Encompassing criminal acts perpetrated by professionals in various disciplines such as medicine, law, accounting and banking helps in narrowing the scope of the term “white-collar crimes”. The focal point of all white-collar crimes is the violation of standards and professional code of conduct (Friedrichs, 2010). On the other hand, the term “elite deviance” is a broader scope of describing irresponsibility among individuals entrusted with the role of upholding and protecting laws that curb unethical acts. Normally, elite deviance has less dire outcome such as promoting cynicism and alienation of non-elites in comparison to white-collar crimes, which always results in significant socioeconomic effects. The typological approach to white-collar crime helps in narrowing the scope of addressing these crimes. Using this approach, economists and psychologists can easily enter a corporate environment and ascertain the source and magnitude of a crime with ease. However, this approach faces the drawback of being incompatible with other forms of crimes and thus is a hurdle to the development of general theories of crime.
Corporations and professionals manipulated the market devising strategies that false notions regarding the price and quality of a good or service. In this regard, they can increase their profit levels without necessarily investing additional resources. Consumers, who normally rely on advertisement in making purchase decisions, become vulnerable to manipulation subject to false information.
White-collar crimes pose threats to civil liberties through their impacts on various socioeconomic and political factors. They trigger the downward spiral of economies and initiate political tensions in cases whereby the crime involved government institutions. Poor socioeconomic and political status makes the citizens a country vulnerable to various forms of exploitation and abuse of human rights due to lack of autonomous and decision-making.
The common violent white-collar crimes involve the exposure of person to substances and products that may inflict harm such as the supply of substandard medicine. Corporate violence differs from the conventional violence witnessed in street crimes in the sense that assault does not involve interpersonal confrontation. In addition, Injuries or death resulting from corporate violence have an aspect of collective responsibility and are a consequence rather than the intend outcome (Benson & Simpson, 2009).