COSTS OF WHITE COLLAR CRIME VERSUS CONVENTIONAL CRIME

 

TRENDS

 

CONVENTIONAL CRIME

WHITE COLLAR CRIME

 

 

DECLINING SINCE 1991

LAWSUITS FOR SECURITIES FRAUD AND OTHER FINANICAL VIOLATIONS DOUBLED FROM

1997-2001

 

 

SEC CASES DOUBLED 1997-2001

 

 

 

DIRECT COSTS

 

CONVENTIONAL CRIME

WHITE COLLAR CRIME

 

 

1970s  $4 BILLION

1970s  $40 BILLION

 

AVERAGE ROBBERY $200-$400

CENTENNIAL SAVINGS & LOAN

$165 MILLION

 

LINCOLN S&L LOSSES $3.4 BILLION

 

2002 $13.5 BILLION

 

 

2002 ESTIMATE OF ALL S&L LOSSES

$500 BILLION

 

20 YEARS WORTH OF PROPERTY CRIME

HALF THE ESTIMATED S&L LOSSES

 

 

ENRON ESTIMATED LOSSES

$25 BILLION

 

 


 

PHYSICAL COSTS

 

CONVENTIONAL CRIME

WHITE COLLAR CRIME

 

2001  18,000 DEATHS

 

 

 

1 MILLION SERIOUS INJURIES

 

2001  30,000 DEATHS FROM WORK-RELATED DISEASES/ACCIDENTS

 

12,000 DEATHS FROM UNNECESSARY OPERATIONS

 

100,000 DEATHS FROM MEDICAL MISTAKES

 

3 MILLION SIGNIFICANT WORK INJURIES

 

OTHER COSTS:

Indirect financial and physical

Social Fabric