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Corporate Crime 2023

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Corporate Crime 2023


I am uncertain if there exists a concept of corporate crime. To decrease the offenses dubbed as such, we must stop imposing hefty fines on companies. This proposal is not as extreme as it may seem.

Corporate Crime 2023
 Corporate Crime 2023

To begin with, my point is that corporate crime does not exist as it is ultimately committed by specific individuals. Therefore, my suggestion for curbing this type of crime is to target the actual culprits.


Who Pays For Corporate Crime?


When a big corporation is penalized for violating the law, who bears the cost? Firstly, it is the stockholders who suffer the financial burden. A lot of them are blameless retired people who have invested their money with the corporation and were clueless about its misconduct. Secondly, in case the fines place the financial stability of the company in jeopardy, the employees also lose their jobs. Only the lawbreakers - people who deliberately broke the law - evade the consequences.


Crimes are only carried out by individuals, not businesses. An individual or a group of people is responsible for the decision to dump harmful chemicals or to engage in fraudulent activities that negatively impact workers or pensioners. It's important to acknowledge that corporate crime is ultimately committed by people, not the corporations themselves.


In order to put an end to corporate crime, it is necessary to imprison the individuals responsible for these crimes. At present, company executives weigh the benefits and costs of committing crimes and often find that the profits outweigh the fines they may eventually face. Consequently, they seldom face personal accountability for breaking the law.


Corporate Crime 2023
 Corporate Crime 2023


It is reasonable to hold them accountable for their crimes.


It is suitable to impose fines on companies for the real expenses they cause due to a criminal act. It is necessary to remedy the harmful effects of toxic pollution and provide compensation to those who have suffered damages. As a result, shareholders need to be cautious about whom they appoint as board members. Nevertheless, imposing severe fines on companies as punishment is unreasonable unless the fines are directly imposed on the offenders. The individual responsible for the offense must be held accountable for paying the fine.



Do you think this idea is too extreme?


I disagree. Also, do you believe that a company fine, which doesn't impact an executive's salary, or a ten-year prison sentence would better dissuade a corporate officer from committing a crime? The response to this question is the solution to corporate crime.



Summary:


If you aim to decrease corporate crime, refrain from imposing large fines as punishment on big corporate organizations. Instead, consider an alternative approach.


Keywords:


corporate crime, corporation, ideas




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