The price of corporate crime: the risks to business

Abstract

Purpose

Based on a presentation at the 24th International Symposium on Economic Crime September, 2006, at the University of Cambridge, this paper aims to focus comment on the risk to business generated from organized and economically motivated criminal enterprises to that of risk to reputation.

Design/methodology/approach

The paper is the considered views of someone who has over 28 years of experience with the Royal Canadian Mounted Police with over 20 of those years conducting white collar crime investigations and/or managing teams of investigators.

Findings

Law enforcement officers around the globe are being pushed to deliver and, with an increase in public resources, are pursuing corporate criminals with renewed enthusiasm. Shareholders have started choosing their investments based on social responsibility and ethical leadership. Western countries are experiencing the end of the baby boom and employees will soon be in big demand and able to pick where they want to work, thereby reasonably expecting to choose only the most socially responsible companies. This will not include those companies involved in corporate crime! It is asserted that the future does indeed look tougher for those employees, executives or companies who may get involved in corporate crime.

Originality/value

This paper identifies the risks to business presented by organized and economically motivated criminal enterprises.

Citation

Sliter, J. (2007), "The price of corporate crime: the risks to business", Journal of Financial Crime, Vol. 14 No. 1, pp. 12-16. https://doi.org/10.1108/13590790710721765