STOCK MARKET WATCH -- Friday, 16 March 2012

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47. Four Shocking Misconceptions About White-Collared Crime

http://www.businessinsider.com/four-shocking-misconceptions-about-white-collared-crime-2012-3?utm_source=dlvr.it&utm_medium=social&utm_campaign=warroom

The most recent issue of Psychology Today has a short column on four major myths that are widely when it comes to white-collared crime—usually described as an illegal act committed for financial gain.

1. White-collared crimes are nonviolent—since white-collared crime is usually characterized as non-violent, many are prone to this myth. But criminals in general have a sense of entitlement and need for control.
2. White-collar criminals are highly paid—you may be thinking of famous Ponzi schemers like Bernie Madoff or Allen Sanford here, but white-collared criminals also depend on poorly paid underlings.
3. White-collar criminals are otherwise upstanding citizens—about 40% of white-collared criminals have a record. So, no.
4. It's all about cash—Yes, there are poorly paid white-collar criminals, but the mastermind of the crime could be very rich. Researchers say "peer pressure, company culture, and pure hubris" cause people to commit white-collared crimes.


Read more: http://www.businessinsider.com/four-shocking-misconceptions-about-white-collared-crime-2012-3?utm_source=dlvr.it&utm_medium=social&utm_campaign=warroom#ixzz1pHttLZuP