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AbstractWhite-collar criminality continues to be a significant issue in countries with differing levels of economic development. This paper provides a comparative analysis of white-collar crime and crises through an examination of the recent peer-to-peer (P2P) online lending crash in China. It considers criminological findings from major United States crises in light of China's P2P online lending market failure through the lens of white-collar crime theory and research. The findings show that fraud was a main contributor to the P2P online lending crash and that various structural factors facilitated financial crimes that caused the collapse of the P2P online lending market. This study indicates that, similar to the U.S. experience, crime-facilitative environments allowed for endemic fraud in China's online lending industry. It suggests that a primarily reactive approach to financial crime is less effective than a proactive system of compliance that includes more comprehensive and transparent financial regulation and law enforcement.

In this introduction to this special issue of the Journal we broadly consider the problem of white-collar and corporate crime in Asia. Official reports from China show the pervasiveness of current problems and the inherent dangers underlying continued economic growth and reforms. We also consider evidence bearing on the idea that Japan's remarkably low rate of common crime is likely eclipsed by the level of white-collar and corporate crime, and briefly discuss the institutionalization of economic crime in South Korea. Issues related to the lack of study of white-collar and corporate lawbreaking in Asia are also addressed. Finally, we introduce the papers and topics of this special issue, which include comparative research on cybercrime, the enforcement of intellectual property violations, accounting fraud, financial crime, and offenses in the mutual fund industry.

This paper proposes a classification scheme for distinguishing "organized crime" and "corporate crime" based not on the occupational position or social status of their perpetrators, but on the motives and methods of the offenses themselves. Using government documents, interviews with FBI investigators and thrift regulators, as well as a variety of secondary sources, it documents patterns of crime in the savings and loan industry and demonstrates that these conspiracies more closely approximate organized crime than corporate crime. Included in the discussion is a brief exploration of the other forms of corporate illegality to which this broader typology can be applied. The paper concludes with a discussion of the theoretical and policy implications of applying the organized crime model to certain forms of white‐collar crime and argues that with the proliferation of financial fraud, it is imperative to replace traditional ad hominem assumptions about corporate illegality with more analytically useful distinctions based on the modus operandi.

This article elaborates on the nature and scale of white-collar crime in the savings and loan crisis. It provides an overview of the thrift industry and the impact of deregulation on opportunities for fraud. Violations are then discussed under the general headings of "unlawful risk taking,""collective embezzlement," and "covering up," and similarities are noted between criminal activities of thrift operators and those of persons associated with traditional organized crime. Government enforcement issues are discussed, focusing on both statutory changes and the law in action. Finally, the article argues that future policymaking, when considering changes in regulatory structure, must take into account the criminogenic environment produced by earlier legislation.

In a discussion of white-collar crime in the savings & loan crisis, an overview of the thrift industry & the impact of deregulation on opportunities for fraud is presented. Violations are then discussed in terms of unlawful risk taking, collective embezzlement, & covering up. Similiarities are noted between criminal activities of thrift operators & those associated with traditional organized crime. Government enforcement issues are discussed, focusing on both statutory changes & the law in action. It is concluded that future policy making, when considering changes in regulatory structure, must take into account the criminogenic environment produced by earlier legislation. Adapted from the source document.

The question of punishment of white‐collar criminals is addressed in this paper through an examination of sanctions imposed on health care providers convicted of defrauding California's Medicaid "Medi‐Cal" system. Quantitative data were collected from Medi‐Cal case files and, for comparative purposes, from a statewide data base maintained by the California Bureau of Criminal Statistics for grand theft arrestees. Qualitative data comprising interviews with Medi‐Cal enforcement personnel supplement the analysis. The analysis of criminal sanctions reveals greater leniency in the punishment of Medi‐Cal offenders than in the punishment of similarly charged non‐white‐collar offenders. The findings are related to recent debates regarding the severity of punishment for white‐collar offenders.

The problem discussed by Professor Stumpf in his book Morality and the Law can be summarized by these questions: Do we have two kinds of prescribed conduct, one prescribed by morality independent of the government, the other prescribed by government independent of morality? Or is prescription by government necessarily moral because government is necessarily moral by reason of being the government? If not, under what conditions, if any, does prescription by government become a moral prescription? Under what conditions, if any, is government, by law, a matter of expedience, not to be confused with morality? reviewer: Henry Nelson Wieman ============================== The critical notes in this review are not to be taken as a lack of appreciation of Professor Stumpf's contribution to legal philosophy. The problems he has formulated, even though not solved, focus attention on some of the shortcomings in the recurrent polemics on natural law and legal positivism. The progress of jurisprudence in this important area requires moral philosophers to study the position of "legal positivists" who claim to be interested in the morality of positive law. This study should include an examination of the underlying metaphysical and epistemological bases of natural law philosophy and of the relevance of deontological and teleological ethics as well as that of "cognitivism." Current moral philosophy has much to contribute to the solution of these problems and thus to the progress of jurisprudence. Despite the problematic character of this book, Professor Stumpf has shown great sensitivity to current jurisprudential difficulties. One hopes he will turn his attention to some of the ethical problems suggested here, and relate his analysis of them to the philosophy of law. reviewer: Jerome Hall