Malta’s White Collar Crime Epidemic: A Study of Need or Greed?
The Problem
Malta has been grappling with a surge in white collar crimes, including fraud, corruption, and money laundering, which have resulted in significant financial losses across various sectors of society. The issue has received growing attention from criminologists, who are seeking to understand the nature of these crimes and the motivations behind them.
The Characteristics of White Collar Crime
According to researchers at the University of Malta’s Faculty for Social Wellbeing, white collar crime is a complex phenomenon that is often perpetrated by intelligent and well-educated individuals with high social status. These offenders typically use their sophisticated skills and knowledge to commit financial offenses, which can have devastating consequences for businesses, investors, and customers.
The Study
A recent study conducted by the Department of Criminology at the University of Malta sought to explore the nature of white collar crime in Malta, including its definition and extent, as well as the motivations behind it. The researchers used a mixed-method approach, combining theoretical frameworks with empirical data gathered from open-ended semi-structured interviews with elite business respondents.
The Findings
The findings of the study confirm Sutherland’s classic conceptualisation of white collar crime, with an emphasis on ‘greed’ as the primary motivation. However, the study also highlights the importance of opportunity in facilitating these crimes. The researchers conclude that a combination of factors, including economic pressures and a lack of effective regulation, contribute to the prevalence of white collar crime in Malta.
Implications for Policy
The study’s findings offer valuable insights for policymakers and regulators seeking to prevent and control financial offenses. By understanding the motivations behind white collar crime, authorities can develop targeted strategies to combat these crimes and protect the integrity of the financial system.
- Develop effective regulations to prevent financial crimes
- Improve economic conditions to reduce pressure on individuals to engage in illegal activities
- Increase public awareness and education about the risks and consequences of white collar crime
- Enhance cooperation between law enforcement agencies to share intelligence and best practices