Insufficient Penalties For White Collar Crime

It looks as though the average individual that is convicted of a white collar crime does not have to pay very harsh penalties. In a recent report involving 1,236 white collar criminals, only 6 percent received prison sentences of 10 years or more and 28 percent received no prison time at all. Another recent case involved a felon who had stolen over 50,000 dollars from an Ohio business and as a result was only sentenced to probation, community service and a 2,500 fine.

With relaxed penalties such as these, it is almost as though the justice system is telling white collar criminals around the world that they don't have much to worry about. On the other hand, if more strict punishments are consistently given to those guilty of fraud and other similar crimes, then we might see a decrease in the amount of white collar offenses.

As a result of the Enron scandal of 2001, the Bush administration signed the Sarbanes-Oxley Act which was intended to crack down on these kinds of crimes. Apparently, roughly 7 years later, there has not been much of a change. Hopefully as more reports and reviews are distributed in regards to these sentences, we might start to see some more promising results.

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