Ethics and Small Business Fraud and White Collar Crime



White collar crimes include a class on non-violent practices that are unacceptable before the law and professional regulations and are restricted to the business world. The rate at which these crimes happen in today’s commercialized society has orchestrated the need to have certain considerations in terms of specific legal provisions, professional regulation as well as in management approaches. The performance of the national economy heavily relies on the level of crime and investor confidence that is likely to be affected by irregular practices among business people. Business ethics are regulations that guide the business fraternity to take part in legal and right conduct that protects the interests of all the parties in the business. Moral principles are attached to ethical business conduct, which entails the conduct of the individual employees and the entire organization. Legal frameworks have been formulated in the criminal and justice systems to protect parties to a business interaction from improper and unethical practices. Personal conduct is supposed to follow ethical expectations protecting the organization and the customers in the spirit of being responsive to positive outcomes of various needs of the involved parties. Violation of these ethical expectations amounts to criminal liability among the individual employees. The obligation of protection of the customers as well as the employees and investors clearly defines the corporate ethical code of conduct.