White Collar Crime hard to Deter? Perhaps we’re trying the wrong approach says Business Ethics Speaker Chuck Gallagher « Motivational Speaker – Chuck Gallagher Business Ethics and Choices Expert
Business Ethics Speaker Chuck Galagher (a former fraudster) makes some interesting comments on a recent article in which the experts comment on why white collar crime is hard to deter.
How do companies deter White Collar Crime?
With media reports filled with stories of “white collar crime” such as the developing Koss embezzlement story and the on-going reports related to Allen 
Stanford and recently sentenced Bernie Madoff, it’s no wonder that organizations are seeking to find deterrents to this seemingly growing phenomenon.
As I prepare to address a group in just hours, I came across this article in the Charleston Regional Business Journal and it struck me – “We’re going about this all wrong!” But, before I suggest what’s right let’s look at excerpts from the article featured below. The whole article is here:
Law school panelists: White collar crime hard to deter
By Andy Owens
aowens@scbiznews.com
Published Feb. 22, 2010Crime pays, at least if you’re a midlevel executive wearing a white collar.
Panelists at a symposium on crime and punishment said that fraudsters find the risk of being caught typically worth the potential reward for all but the most top-level executives.
Using Enron and WorldCom, along with more recent financial fraud, as examples, the panelists — a federal prosecutor, a CPA and a former Securities and Exchange Commission official — said deterring white collar crime is difficult, partly because criminals are typically caught after years of high living and typically only the top executives receive the harshest penalties.
COMMENT #1: The first problem I see is that none of the panelists have any background as a criminal. Each represent a segment of society that intellectually is connected with and perhaps understands “white collar crime”, but none are “white collar criminals.” Therefore, they see things from their perspective but have no practical experience in showing others how to deter crime. See the list below and then ask yourself, how could any of these folks really identify with the commission of a crime and therefore how to prevent it?
Read the full article here>>>>
Filed under: FRAUD DETECTION, FRAUD PREVENTION, INTEGRITY MANAGEMENT, OCCUPATIONAL FRAUD AND ABUSE
wow…. amazing information…